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THE RUPEE: firm trend

01 May, 2018

The rupee sustained its overnight levels against the dollar on the money market on Monday in the process of trading, dealers said. The rupee also held it's week-end levels against the dollar for buying and selling at Rs 115.61 and Rs 115.62 respectively, they said.
The dollar's index against a basket of six major currencies stood at 91.561, steady on the day but down from Friday's high of 91.986, its strongest level since Jan. 11.
The dollar index had risen more than 1.3 percent last week for its biggest weekly gain in over two months, after the US 10-year Treasury yield rose above the psychologically key 3.0 percent threshold to four-year highs.
The US 10-year yield has since come off that peak and fell 3 basis points on Friday to 2.957 percent, down from a four-year high of 3.035 percent struck on Wednesday.
The dollar was trading against the Indian rupee at Rs 66.660, the greenback was available at 3.918 in terms of the Malaysian ringgit and the US currency was at 6.331 at versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday: 82.98-82.98 (Previous 82.98-82.98).


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Open Bid Rs.118.20
Open Offer Rs.118.70
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Bid Rate Rs.115.61
Offer Rate Rs.115.62
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According to currency dealers, the dollar resumed trading on its last closing of Rs 118.50 and Rs 118.70 as its buying and selling rates, respectively. At the close, the dollar depreciated 15 paisas for buying at Rs 118.35. However, it firmly held its opening trend for selling at Rs 118.70, they added.
In addition, the local currency witnessed divergent trend in terms of trading against the pound sterling. The pound was traded for buying and selling at Rs 162.05 and Rs 163.70 as compared to the Saturday's closing trend of Rs 162.80 and Rs 163.40 respectively, they said.
The dollar opened at Rs 118.20 (buying) and Rs 118.40 (buying) against same last rate. It closed at Rs 118.20 (buying) and Rs 118.40 (buying).

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