Little movements were witnessed on the money market on Tuesday as the rupee moved cautiously against the dollar in the process of trading, dealers said. People are buying dollars but in a limited way, which helped the rupee to show its stability versus the dollar, marketmen said.
In the second Asian trade, the dollar edged lower against the yen on Tuesday, hovering near a two-week low, as worries about an intensifying trade fight between the United States and its trade partners continued to hurt risk appetite.
The dollar pared some of its losses after Navarro's comments. It was last down 0.15 percent at 109.60 yen, after slipping to a two-week low of 109.365 on Monday.
The dollar was available against the Indian rupee at Rs 68.18, the greenback was at 4.021 in terms of the Malaysian ringgit, and the US currency at 6.557 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 83.70-83.70 (Previous 83.70-83.70).
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Open Bid Rs.124.00
Open Offer Rs.124.50
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Bid Rate Rs.121.54
Offer Rate Rs.121.56
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The greenback resumed trading on its overnight closing of Rs 124.20 and Rs 124.50 as its buying and selling rates, respectively. At the close, it depreciated by 20 paisas for buying at Rs 124.00. However, it firmly held its opening trend for selling, local currency dealers said.
Furthermore, the national currency showed strength as it recovered by 50 paisas against the pound sterling for buying at Rs 161.50. However, it remained unchanged for selling at Rs 163.50, they added.
The dollar opened at Rs124.50 (buying) and Rs124.60 (selling) against last rate of Rs124 (buying) and Rs124.10 (selling). It closed at Rs124.50 (buying) and Rs124.60 (selling).