THE RUPEE: Minor changes

02 Nov, 2017

The rupee showed little changes against the dollar on the money market on Wednesday in the process of trading activity, dealers said.
They said the rupee moved cautiously versus the dollar due to availability of dollars.
In the third Asian trade, the dollar edged higher on Wednesday, as investors awaited the outcome of the US Federal Reserve's two-day policy meeting later in the session for clues about future tightening.
The dollar index, which tracks the greenback against a basket of six major rivals, added 0.1 percent to 94.598, though it remained shy of Friday's three-month high of 95.150.
The US central bank is expected to leave interest rates unchanged, but investors will be watching for any new indications that the Fed will resume raising rates next month.
The dollar was trading against the Indian rupee at Rs 64.57, the greenback was at 4.232 in terms of the Malaysian ringgit and the US currency was at 6.624 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday: 80.90-80.90 (previous 80.88-80.90).
While, the rupee was almost unchanged in terms of the euro for buying and selling at Rs 124.75 and Rs 126.05 respectively, they said.



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Open Bid Rs.107.50
Open Offer Rs.107.70
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Bid Rate Rs.105.35
Offer Rate Rs.105.37
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According to currency dealers, the short supply phenomenon of the US dollar helped its further appreciation at Rs 107.55 and Rs 107.85 for buying and selling, respectively, as compared to the overnight closing trend of Rs 107.50 and Rs 107.75 respectively.
Likewise, the national currency remained under pressure for the third consecutive day against the pound sterling. The pound's buying and selling rates further improved from Tuesday's closing of Rs 141.30 and Rs 142.00 to Rs 142.20 and Rs 143.20, respectively, they added.
The dollar opened at Rs 106.70 (buying) and Rs 107 (selling) against same last rate. It closed at Rs 106.70 (buying) and Rs 107 (selling).

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