The rupee somehow managed to resist sharp losses against the dollar during the week when Nawaz Sharif was disqualified by the Supreme Court. In the meantime, other experts said that supply of dollars was good but a kind of panic buying seen following the disqualification of Nawaz Sharif. It is expected that the rupee is likely to slightly fluctuate in the coming days.
INTERBANK MARKET RATES: The rupee moved in a narrow band, showing no change versus the dollar for buying and selling at Rs 105.39 and Rs 105.40.
OPEN MARKET RATES: The rupee lost 20 paisas against the dollar for buying at Rs 107.50 and it also dropped by 50 paisas for selling at Rs 108.00. The rupee also dropped by Rs 1.60 in relation to the euro for buying and selling at Rs 125.60 and Rs 126.60.
INTER-BANK MARKET RATES: On Monday, the rupee did not move sharply against the dollar for buying and selling at Rs 105.39 and Rs 105.41. On Tuesday, the rupee was almost unchanged in terms of the dollar for buying and selling at Rs 105.39 and Rs 105.40. On Wednesday, the rupee picked up six paisas in terms of the dollar for buying and selling at Rs 105.32 and Rs 105.36. On Thursday, the rupee was trading versus the dollar for buying and selling at Rs 105.39 and Rs 105.40.
On Friday, the rupee did not move any side in terms of the dollar for buying and selling at Rs 105.39 and Rs 105.40.
OPEN MARKET RATES: On July 24, the rupee-dollar parity rates not issued on Monday. On July 25, the rupee did not move any side in terms of the dollar for buying and selling at Rs 107.30 and Rs 107.50. The rupee gained 60 paisas in relation to the euro for buying and selling at Rs 124.00 and Rs 125.00. On July 26, the rupee was unchanged versus the dollar for buying and selling at Rs 107.30 and Rs 107.50. In line with the trend against dollar, the rupee also depicted no change in relation to the euro for buying and selling at Rs 124.00 and Rs 125.00.
On July 27, the rupee also did not show any change against the dollar for buying and selling at Rs 107.30 and Rs 107.50, they said. The rupee was trading in relation to euro for buying and selling at Rs 124.80 and Rs 124.80. On July 28, the rupee was unchanged versus the dollar for buying and selling at Rs 107.30 and Rs 107.50. The rupee dropped by 45 paisas in relation to the euro for buying and selling at Rs 125.30 and Rs 126.30.
On July 29, the rupee lost 20 paisas against the dollar for buying at Rs 107.50 and it also dropped by 50 paisas for selling at Rs 108.00. The rupee also shed 30 paisas in relation to the euro for buying and selling at Rs 125.60 and Rs 126.60.
OVERSEAS MARKET OUTLOOK FOR DOLLARS: In the first Asian trade, the dollar struggled near a 13-month low against a basket of major currencies on Monday as US political turmoil dampened hopes for quick passage of President Donald Trump's stimulus and tax reform agendas and the euro extended gains.
The Trump administration, already dogged by investigations into alleged Russian meddling in the US election, took a fresh hit on Friday after White House spokesman Sean Spicer resigned, highlighting the upheaval within the president's inner circle.
The dollar index, which tracks the greenback against six major currencies, was little changed at 93.887, after touching 93.823, its lowest since June 2016. The dollar was trading against the Indian rupee at Rs 64.445, the greenback was at 4.282 in terms of the Malaysian ringgit and the US currency was at 6.760 versus the Chinese yuan.
In the second Asian trade, the dollar languished near a 13-month low against a basket of currencies, with traders sceptical that this week's US Federal Reserve meeting would do much to alter the greenback's recent weak trend. The dollar index, which measures the greenback against a basket of six major currencies, eased 0.1 percent to 93.916, trading within sight of Monday's 13-month low of 93.823.
The dollar was trading against the Indian rupee at Rs 64.375, the US currency was available at 4.278 in terms of the Malaysian ringgit and the greenback was at 6.749 versus the Chinese yuan. Bangladesh's state grains buyer has issued another international tender to purchase 50,000 tonnes of rice, European traders said on Tuesday.
In the third Asian trade, the dollar bobbed above a 13-month low against a basket of major currencies, as investors awaited the US Federal Reserve's policy statement for clues on the course of its next monetary tightening. The dollar index, which measures the greenback against a basket of six major currencies, edged slightly higher to 94.109. On Tuesday, it fell as low as 93.638, its weakest level since June 2016. The dollar was trading against the Indian rupee at Rs 64.420, the US currency was available at 4.282 versus the Malaysian ringgit and the greenback was at 6.756 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday. 80.64-80.64 (previous 80.64-80.64).
In the fourth Asian trade, the dollar licked its wounds at 13-month lows against a basket of major currencies after the US Federal Reserve's more cautious wording on the inflation outlook bolstered views it might not hike interest rates again this year.
The dollar's index against a basket of six major currencies slumped to 93.26. It has fallen more than 10 percent from its 14-year high of 103.82 set on January 3. In the final Asian trade, the US dollar was broadly lower as a combination of uninspiring US economic data and political uncertainty kept traders biased toward the euro and other world currencies. The euro and other major currencies rose against the dollar after the release of US second-quarter gross domestic product estimates that largely met economists' expectations. The dollar index against a basket of six major currencies was a shade lower at 93.826 after edging up 0.2 percent the previous day.
The dollar was trading against the Indian rupee at Rs 64.195, the US currency was available at 4.279 in terms of the Malaysian ringgit and the greenback was at 6.748 versus the Chinese yuan. At the weekend, the US dollar was broadly lower on Friday as a combination of uninspiring US economic data and political uncertainty kept traders biased toward the euro and other world currencies.
The euro and other major currencies rose against the dollar after the release of US second-quarter gross domestic product estimates that largely met economists' expectations. The euro has risen nearly 3 percent against the dollar so far this month and more than 11.5 percent this year. It is on track for its third straight weekly gain and the fourth in five weeks.