The rupee recovered modestly against the dollar on the money market on Monday in the process of trading, dealers said. The rupee traded in a narrow range versus the dollar for buying and selling at Rs 104.81 and Rs 104.82 respectively.
The US currency slipped 0.2 percent against the yen from Friday's late North American levels to 112.36 yen, retreating toward last week's late-November low of 112.05. While the headline figure of Friday's non-farm payrolls report for January showed a greater-than-expected rise in job growth, the unemployment rate edged up and wage growth was disappointing. That implied inflation would not attain a pace that would prompt the US central bank to raise interest rates soon.
Fed fund futures priced in a less than 10 percent chance of a rate hike in March after the jobs data on Friday, according to the CME Group's FedWatch. The chance of a June increase was seen at more than 60 percent. The dollar was trading against the Indian rupee at Rs 67.21, the greenback was available at 4.4220 in terms of the Malaysian ringgit and the US currency was at 6.8585 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday: 79.14-79.15 (previous 79.15-79.15).

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Open Bid       Rs.107.60
Open Offer     Rs.107.80
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Bid Rate       Rs.104.81
Offer Rate     Rs.104.82
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