Minor changes were seen on the money market on Wednesday as the rupee moved cautiously versus the dollar in the process of trading, dealers said. The rupee was almost unchanged against the dollar for buying and selling at Rs 104.60 and Rs 104.62 respectively, dealers said.
In the third Asian trade, the dollar sagged against its peers early on Wednesday after downbeat data sapped some of the momentum it had gained from last week's robust US jobs report. The greenback, however, was on the front foot against the pound, which hovered near a 1-month low struck overnight, after a Bank of England policymaker suggested more monetary easing was needed although the BoE cut rates last week. The dollar was steady at 101.935 yen, having gone as high as 102.660 on Monday in the wake of last week's stronger-than-expected US jobs report.
The dollar was trading against the Indian rupee at Rs 66.68, the greenback was at 3.9920 versus the Malaysian ringgit and the US currency was available at 6.6467 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 78.40-78.40 (previous 78.40-78.40).
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Open Bid Rs 106.10
Open Offer Rs 106.30
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Bid Rate Rs 104.60
Offer Rate Rs 104.62
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The dollar resumed trading on a negative note and remained under pressure due to lacking buyers' interest. At close of trading, the greenback finished lower at Rs 106.20 and Rs 106.50 on buying and selling sides against the Tuesday's closing rates of Rs 106.50 and Rs 106.90, respectively.
On the contrary, versus the pound sterling, the rupee failed to maintain rising trend. The pound's buying and selling rates improved from the overnight closing of Rs 138.00 and Rs 139.50 to Rs 138.35 and Rs 139.85, respectively, the dealers added.
The dollar opened at Rs 104.50 (buying) and Rs 105 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 104.50 (buying) and Rs 105 (selling).
Pound Sterling opened at Rs 137.50 (buying) and Rs 138 (selling). It did not observe further change in the second session and closed at Rs 137.50 (buying) and Rs 138 (selling) by the end of second session.