Sharp recovery was seen in the value of the rupee versus the dollar on the money market on Thursday, dealers said. The rupee maintained rising trend against the dollar, picking up 10 paisas against the dollar for buying and selling at Rs 104.69 and 104.71 respectively, dealer said.
In the fourth Asian trade, the dollar wavered against the yen and euro, its advance stalling ahead of a closely-watched US non-farm jobs report on Friday which is expected to shape the market's near-term interest rate expectations.
"The dollar and Treasury yields had risen in tandem following Jackson Hole last week but that phase came to an end yesterday.
The euro was flat at $1.1162, having rebounded on Wednesday from a three-week low of $1.1123. The dollar index was little changed at 95.929 after pulling back overnight from a three-week peak of 96.255. The dollar was trading against the Indian rupee at Rs 66.95, the US currency was at 4.0765 in terms of the Malaysian ringgit and the greenback was available at 6.6800 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 78.40-78.40 (previous 78.40-78.40).
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Open Bid Rs 105.50
Open Offer Rs 105.70
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Bid Rate Rs 104.69
Offer Rate Rs 104.71
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According to the currency dealers, the dollar commenced trading on a healthy note and registered gain following fresh demand.
At close, the dollar ended higher at Rs 105.70 and Rs 105.90 on buying and selling side against the day earlier closing of Rs 105.40 and Rs 105.80, respectively.
However, the rupee showed stability and stayed unchanged on buying side while it remained weak on selling side in relation to the pound sterling that was traded at Rs 136.80 and Rs 138.50 as compared with the previous closing of Rs 136.80 and Rs 138.10, 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.