An easier trend prevailed on the money market on Monday as the rupee drifted lower versus the dollar in the process of trading, dealers said. The rupee shed four paisas against the dollar for buying and selling at Rs 104.78 and Rs 104.80 respectively, they said.
In the first Asian trade, the dollar inched up to a seven-month high against a basket of currencies, retaining some of the momentum from upbeat US data released the previous session that reinforced expectations for a December interest rate hike by the Federal Reserve. The dollar index was up 0.1 percent at 98.l22 after touching 98.158, its highest since March 10. The US currency was steady at 104.110 yen after gaining 0.4 percent on Friday. The euro hovered close to a near three-month low of $1.0965 plumbed earlier on Monday.
The dollar was trading against the Indian rupee at Rs 66.86, the greenback was at 4.2175 in terms of the Malaysian ringgit and the US currency was at 6.7335 in relation to the Chinese yuan. Interbank 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.105.40
Open Offer     Rs.105.60
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Bid Rate       Rs.104.78
Offer Rate     Rs.104.80
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