Firmness prevailed on the local money on Monday as the rupee was almost unchanged against the dollar in the process of trading, dealers said. The rupee gained one paisa versus the dollar for buying and selling at Rs 104.60 and 104.62 respectively, dealer said.
The rupee was unchanged in terms of the dollar for buying at Rs 116.25 while it lost 25 paisas for selling at Rs 117.75. In the first Asian trade, the dollar edged lower, paring some of the gains made in the wake of strong US inflation data that bolstered bets the Federal Reserve will raise interest rates this year.
The dollar index, which measures the greenback's value against a basket of six major currencies, fell 0.2 percent to 95.888. On Friday, it touched 96.108, its strongest level since Sept. 1. US consumer prices rose more than expected in August, data on Friday showed, pointing to a steady build-up of inflation that could allow the Fed to raise interest rates this year.
The dollar was trading against the Indian rupee at Rs 66.88, the greenback was available at 4.1250 versus the Malaysian ringgit and the US currency was at 6.6686 in terms of 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.105.00
Open Offer Rs.105.20
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Bid Rate Rs.104.60
Offer Rate Rs.104.62
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The trading activity of the dollar resumed on Saturday's closing of Rs 105.10 and Rs 105.40 as its buying and selling rates, respectively.
Because of the short supply, the dollar ended higher at Rs 105.15 on buying counter. However, its selling rate declined to Rs 105.30, the currency dealers said.
On the other hand, the rupee maintained rising trend against the British pound. The pound's buying and selling rates further decreased from the previous closing of Rs 135.80 and Rs 137.00 to Rs 135.80 and Rs 136.50, respectively, the dealers added.