The rupee commenced the week on an easier tone, shedding slightly against the dollar in the process of trading, dealers said on Monday. The rupee was down by three paisas in relation to the dollar for buying and selling at Rs 104.83 and Rs 104.84, they said.
A holiday in Tokyo kept trading light and the dollar index was just 0.1 percent firmer at 102.33, near the middle of last week's wide 101.30 to 103.82 range.
The dollar made more progress on a broadly softer yen, adding 0.5 percent to 117.43 and nearing near-term resistance at 117.77. Support was seen around 116.80/90.
It had already recovered all the way from a 115.06 trough on Friday, but remains well short of the next major chart target around 118.60. The euro was steady at $1.0530, after ricocheting between $1.0339 and $1.0621 last week, but also gained ground on the yen to 123.65.
The dollar was trading against the Indian rupee at Rs 68.22, the greenback was at 4.4750 in terms of the Malaysian ringgit and the US currency was at 6.9340 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday. 78.70-78.70 (previous 78.70-78.70).
The rupee also dropped 10 paisas in terms of the euro for buying and selling at Rs 113.60 and Rs 115.10, they said.
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Open Bid Rs 108.30
Open Offer Rs.108.50
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Bid Rate Rs.104.83
Offer Rate Rs.104.84
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According to currency dealers, the US dollar resumed trading on its Saturday's closing of Rs 108.25 and Rs 108.70 as its buying and selling rates, respectively. At the close, it ended higher at Rs 108.35, on the buying counter.
However, no change in the value of dollar took place as it sustained its last closing trend of Rs 108.70, on the selling counter, respectively, they added.
Furthermore, the Pakistani rupee showed bullish trading trend in the market as it recovered by Rs 1 versus the pound sterling.
The pound's buying and selling rates went down from last closing rates of Rs 132.00 and Rs 133.00 to Rs 131.00 and Rs 132.00, respectively, they said.
The dollar opened at Rs 108 (buying) and Rs 108.50 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 108 (buying) and Rs 108.50 (selling).
Pound Sterling opened at Rs 135 (buying) and Rs 135.10 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 135 (buying) and Rs 135.10 (selling).