The rupee recovered modest ground against the dollar on the money market on Monday in the process of trading, dealers said. The rupee posted fresh gain of 20 paisas in relation to the dollar for buying and selling at Rs 106.30 and Rs 106.50, they said. The rupee, however, held the weekend levels in terms of the euro for buying and selling at Rs 124.00 and Rs 125.00, they said.
The dollar was flat on the day at 109.22 yen, after slipping to as low as 108.605 yen on Friday on concerns over President Donald Trump's ability to push through tax reform and stimulus measures.
It largely shrugged off the University of Michigan's consumer sentiment index, which improved to its strongest in seven months, reflecting confidence in the outlook for the economy and in personal finances as the US stock market holds near record highs.
The dollar was trading against the Indian rupee at Rs 64.050, the greenback was at 4.286 in terms of the Malaysian ringgit and the US currency was at 6.673 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday. 80.70-80.70 (previous 80.70-80.70).
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Open Bid Rs.106.30
Open Offer Rs.106.50
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Bid Rate Rs.105.39
Offer Rate Rs.105.40
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According to currency dealers, the US dollar resumed trading on a negative note and remained under pressure following lack of buyers' interest in the market.
As a result, it slid to Rs 106.20 and Rs 106.50 on buying and selling side, respectively, as compared to last closing trend of Rs 106.50 and Rs 106.70 respectively, they added.
Likewise, the local currency also followed the same suit against the pound sterling.
The pound's buying and selling rates decreased from Saturday's closing rates of Rs 135.50 and Rs 136.50 to Rs 135.30 and Rs 136.00 respectively, they said.
The dollar opened at Rs 107.10 (buying) and Rs 107.20 (selling) against same last rate. It closed at the same rates in evening session.