The rupee managed to gain against the dollar and euro on the money market on Wednesday in the process of trading activity, dealers said. The rupee picked up three paisas against the dollar for buying and selling at Rs 104.78 and 104.80, dealer said.
In the third Asian trade, the dollar edged up on Wednesday, moving off lows touched against the yen overnight, as markets looked to a gathering of global central bankers in Wyoming for clues on whether the Federal Reserve is poised to hike interest rates again. Data on Tuesday showed new US single-family home sales unexpectedly rose in July, reaching their highest level in nearly nine years as demand increased broadly, brightening the housing market outlook.
The dollar was available against the Indian rupee at Rs 67.12, the greenback was at 4.0340 in terms of the Malaysian ringgit and the US currency was at 6.6555 versus 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.106.00
Open Offer Rs.106.20
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Bid Rate Rs.104.78
Offer Rate Rs.104.80
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The trading activity resumed on its overnight closing of Rs 106.00 and Rs 106.30 against a dollar on the buying and selling sides respectively. No change in the value of dollar took place on the buying side as it sustained its overnight trend until closing of the market. However, it could not carry its value on the selling side amidst an absence of the buyers' interest and declined further to Rs 106.23 accordingly, the local currency dealers said.
On the other hand, the rupee remained under pressure against the British pound for the second consecutive day and registered further reduction. The pound's buying and selling rates went up from the Tuesday's closing Rs 138.30 and Rs 139.20 to Rs 138.60 and Rs 139.35, respectively, they 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.