The rupee was marginally up against the dollar on the money market on Tuesday in the process of trading activity, dealers said. The rupee almost held the overnight levels versus the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectively, they said.
Concerns over US President-elect Donald Trump's protectionist policies are also undermining risk sentiment, helping to push up the yen back to its highest levels in more than five weeks.
The pound was on the defensive at $1.2045, having slumped to a three-month low of $1.1983 on Monday, which was its weakest point in more than three decades barring the several minutes in early Asian trade on Oct 7 when it tanked to as low as $1.1491. Against the euro, the pound hit a 10-week low of 88.53 pence per euro on Monday before edging back to 88.06. Against the yen, sterling hit an eight-week low of 136.81 on Monday.
The dollar was trading against the Indian rupee at Rs 68.04, the greenback was available at 4.4635 in terms of the Malaysian ringgit and the US currency was at 6.8819 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 78.88-78.92 (previous 78.88-78.88).
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Open Bid Rs.108.30
Open Offer Rs.108.50
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Bid Rate Rs.104.85
Offer Rate Rs.104.86
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According to the currency dealers, the dollar resumed trading on a negative note and remained under selling pressure during the day's trading session. At close, the dollar slide down from the overnight closing of Rs 108.40 and Rs 108.70 on buying and selling side to Rs 108.35 and Rs 108.65, respectively. However, the rupee failed to sustain following fresh demand for the pound sterling. The pound's buying and selling rate further moved up from the Monday's closing of Rs 130.20 and Rs 131.20 to Rs 130.60 and Rs 132.00, respectively, the dealers said.
The dollar opened at Rs 108.30 (buying) and Rs 108.40 (selling) against same last rate. At the end of second session, the dollar closed at the same levels.
Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It did not observe further change in the second session and closed at Rs 130 (buying) and Rs 131.50 (selling).