THE RUPEE: Mixed patterns

07 Dec, 2017

The rupee moved both ways against the dollar on the money market on Wednesday in the process of trading, dealers said.
The rupee, however, gained 50 paisas versus the euro for buying and selling at Rs 126.30 and Rs 128.55 respectively, they said.
In the third Asian trade, The dollar edged down on Wednesday, as concerns about a possible US government shutdown offset optimism about progress on tax reform legislation, while the Australian dollar weakened after economic data showed worrying signs for growth.
The dollar index, which tracks the greenback against a basket of six major currencies, inched 0.1 percent lower to 93.297.
The euro was steady on the day at $1.1828, while the dollar edged down 0.1 percent against its Japanese counterpart to 112.38 yen.
Sterling, already under pressure amid evaporating hopes for a near-term Brexit accord, dipped on Wednesday after a report of a failed plot to kill UK Prime Minister Theresa May. Sky News said on Tuesday, citing sources, that a plan to assassinate May had been foiled.
The dollar was trading against the Indian rupee at Rs 64.46, the greenback was at 4.065 versus the Malaysian ringgit and the greenback back was at 6.614 in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday: 82.40-82.40 (Previous 82.40-82.40).



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Open Bid Rs 107.30
Open Offer Rs 107.50
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Bid Rate Rs 105.54
Offer Rate Rs 105.55
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According to currency dealers, the dollar resumed trading on a negative note and remained under pressure throughout the trading session. Resultantly, it slid by five paisas and ended at Rs 107.20 and Rs 107.55 for buying and selling, respectively, as compared to the overnight closing trend of Rs 107.25 and Rs 107.60 respectively, they added.
Likewise, the national currency also recovered by 50 paisas versus the pound sterling for buying at Rs 142.50. However, it firmly sustained its opening trend for selling at Rs 144.00, they said.
The dollar opened at Rs 107.40 (buying) and Rs 107.50 (selling) against same last rate. It closed at Rs 107.40 (buying) and Rs 107.50 (selling).

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