The rupee moved in a narrow band against the dollar on the money market on Tuesday in the process of trading, dealers said. The rupee fluctuated but in tight range levels in relation to the dollar for buying and selling at Rs 105.39 and Rs 105.40 respectively, they said.
The dollar slipped to a low of 110.005 yen at one point, its lowest level since June 15. The greenback was last trading at 110.20 yen, down about 0.1 percent on the day.
While the dollar could bounce back to levels around 111.50 yen if forthcoming US economic data is strong, a rise to levels beyond 112 yen seems unlikely in the near term, said Teppei Ino, an analyst for Bank of Tokyo-Mitsubishi UFJ in Singapore.
The dollar was trading against the Indian rupee at Rs 64.135, the greenback was at 4.276 in terms of the Malaysian ringgit and the US currency was at 6.719 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 80.66-80.68 (previous 80.65-80.66).
The rupee drifted lower versus the euro, losing 80 paisas in relation to the euro for buying and selling at Rs 125.80 and Rs 126.80 respectively.
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Open Bid Rs.107.30
Open Offer Rs.107.50
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Bid Rate Rs.105.39
Offer Rate Rs.105.40
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The greenback commenced trading on a negative note for another day amidst lack of buyers' interest in the market. Consequently, it ended at 107.00 and Rs 107.50 on buying and selling side, respectively, as compared to the overnight closing rates of Rs 107.20 and Rs 107.75 respectively, local currency dealers said.
On the contrary, the local currency failed to sustain as it depreciated versus the pound sterling. The pound's buying and selling rates went up from Monday's closing rates of Rs 139.40 and Rs 140.60 to Rs 140.60 and Rs 141.60 respectively, they added.
The dollar opened at Rs 107.10 (buying) and Rs 107.20 (selling) against last rate of Rs 107 (buying) and Rs 107.10 (selling). It closed at Rs 107.10 (buying) and Rs 107.20 (selling).