An easier trend was witnessed on the money market on Monday as the rupee fell modestly against the dollar in process of trading, dealers said. The rupee extended weekend slide versus the dollar, dropping four paisas for buying and selling at Rs 104.84 and Rs 104.85, they said.
The rupee was also unmoved in terms of the euro for buying at Rs 115.00 while it lost 50 paisas for selling at Rs 116.50, they said.
In the first Asian trade, the dollar was close to eight-month highs against a basket of currencies in Asian trade on Monday, buoyed by expectations that the US Federal Reserve will raise interest rates this year. The dollar index, which tracks the greenback against a basket of six major counterparts, stood at 98.696, not far from its Friday high of 98.813, which was its loftiest peak since Feb. 3.
The dollar was trading against the Indian rupee at Rs 66.88, the greenback was available at 4.1800 versus the Malaysian ringgit and the US currency was at 6.7738 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday. 78.40-78.40 (previous 78.40-78.40).
========================
Open Bid Rs.105.60
Open Offer Rs.105.80
========================
========================
Bid Rate Rs.104.84
Offer Rate Rs.104.85
========================
According to the currency dealers, the US dollar resumed trading on a healthy note and kept moving up during the day's trading. The short supply phenomenon of the US dollar helped its appreciation at Rs 105.85 and Rs 106.00 on buying and selling sides, respectively, as compared to the previous closing of Rs 105.80 and Rs 105.90, respectively.
However, the rupee stayed weak and lost 20-paisas on buying side while it recovered 20 paisa on selling side in relation to the pound sterling which was bought and sold at Rs 129.00 and Rs 129.60 as compared to the previous closing of Rs 128.80 and Rs 129.80, respectively, the dealers added.
The dollar opened at Rs 105 (buying) and Rs 105.10 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 105 (buying) and Rs 105.10 (selling). Pound Sterling opened at Rs 132 (buying) and Rs 133 (selling). It did not observe further change in the second session and closed at Rs 132 (buying) and Rs 133 (selling).