The dollar managed to touch the barrier of Rs 107 versus the rupee on the money market on Thursday, dealers said. Some money experts attributed the rise in dollars' demand to rising demand from investors and buyers. The rupee shed 20 paisas against the greenback for buying and selling at Rs 106.80 and Rs 107.00, they said.
In the fourth Asian trade, the dollar firmed in Asian trading after data suggesting a pickup in US economic growth early in the fourth quarter increased chances of the Federal Reserve raising interest rates. The dollar index, which tracks the greenback against a basket of six major peers, rose 0.1 percent to 101.77, pushing back toward its overnight high of 101.91, its highest in nearly 14 years. US markets will be closed Thursday for the Thanksgiving holiday.
The dollar was available against the Indian rupee at Rs 68.56, the greenback was at 4.4550 in terms of Malaysian ringgit and the US currency was 6.9187 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday. 78.63-78.65 (previous 78.60-78.62).
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Open Bid Rs.106.80
Open Offer Rs.107.00
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Bid Rate Rs.104.81
Offer Rate Rs.104.83
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According to currency dealers, the US dollar resumed trading on its overnight closing of Rs 107.10 and Rs 107.20 as its buying and selling rates, respectively. At the close, the dollar could not sustain and declined its worth to Rs 107.10 on buying counter. However, its selling rate did not witness any change till close of trading, they added.
On the other hand, the local currency failed to keep upward trend and registered considerable reduction versus the pound sterling. The pound's buying and selling rates went up from Wednesday's closing rates of Rs 132.00 and Rs 133.00 to Rs 133.10 and Rs 134.00, respectively, the dealers said.
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).