Firmness prevailed on the money market on Wednesday as the rupee moved cautiously against the dollar in the process of trading, dealers said. The rupee inched up by three paisas in relation to the dollar for buying and selling at Rs 104.77 and Rs 104.78 respectively, they said.
The euro was little changed at $1.0720 after slipping 0.5 percent overnight. The common currency had slumped on Monday to $1.0505, its lowest since March 2015, in a knee-jerk reaction after Italian Prime Minister Matteo Renzi lost a referendum on constitutional reform.
The dollar was trading against the Indian rupee at Rs 67.83, the greenback was at 4.4330 versus the Malaysian ringgit and the US currency was at 6.8881 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday: 78.80-78.82 (previous 78.79-78.80).
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Open Bid Rs.107.00
Open Offer Rs.107.20
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Bid Rate Rs.104.77
Offer Rate Rs.104.78
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According to currency dealers, the dollar resumed trading on its overnight closing of Rs 107.00 and Rs 107.50 as its buying and selling rates, respectively.
The short supply phenomenon of the dollar helped its appreciation at Rs 107.25 on buying counter.
However, it did not witness any change and sustained its overnight trend of Rs 107.50, on selling counter, respectively, they said.
Moreover, the local currency showed strength as it recovered its day earlier losses versus the British pound.
The pound's buying and selling rates declined from the Tuesday's closing rates of Rs 135.30 and Rs 136.30 to Rs 134.20 and Rs 135.10, respectively, they added.
The dollar resumed trading at Rs 107 (buying) and Rs 107.50 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 107 (buying) and Rs 107.50 (selling).
Pound Sterling opened at Rs 135 (buying) and Rs 135.10 (selling) against same last week's rate. It did not observe further change in the second session and closed at Rs 135 (buying) and Rs 135.10 (selling).