Marginal changes were seen on the money market on Monday as the rupee moved cautiously against the dollar in process of trading, dealers said. The rupee was almost unchanged versus the dollar for buying and selling at Rs 104.85 and Rs 104.87, dealers said.
In the first Asian trade, the dollar was buoyant against the yen and euro on Monday as the risk-on mood inspired by solid US economic data and fading fallout from Brexit continued to lift the US currency and assets. Upbeat US business activity data out on Friday also added to prospects of a Federal Reserve interest rate hike within the year and supported the greenback. The dollar was trading against the Indian rupee at Rs 67.21, the greenback was at 4.0820 in terms of the Malaysian ringgit and the US currency was 6.6777 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday. 78.40-78.40 (previous 78.40-78.40)
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Open Bid Rs 105.55
Open Offer Rs.105.75
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Bid Rate Rs.104.85
Offer Rate Rs.104.87
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According to the currency dealers, the dollar commenced trading on a positive note and registered appreciation in its worth during the day's trading.
The short supply of the dollar helped its appreciation at Rs 105.75 and Rs 105.90 on buying and selling sides, respectively, as compared with Saturday's closing rates of Rs 105.60 and Rs 105.80, respectively.
On the other hand, the local currency improved its worth in relation to the British pound. The pound's buying and selling rates declined from the previous closing of Rs 140.00 and Rs 141.00 to Rs 139.40 and Rs 140.60, respectively, they added.
The dollar opened at Rs 104.50 (buying) and Rs 105 (selling) against same last rate. It did not observe any change in evening session and closed at the same rates. Pound Sterling followed same pattern, opened at Rs 137.50 (buying) and Rs 138 (selling). It did not observe further change in the second session and closed at equal prices.