The rupee extended its overnight gains against the dollar on the money market on Thursday in the process of trading, marketmen said. The rupee moved cautiously, showing no change in relation to the dollar for buying and selling at Rs 121.54 and Rs 121.56 respectively, they said.
Demand stoked by the looming end of 2018's first half was seen supporting the dollar, which was not dented by lower US yields and a slide in Wall Street shares.
The dollar index against a basket of six major currencies stood steady at 95.266 after rallying 0.65 percent the previous day. The greenback had advanced after US President Donald Trump said on Wednesday he will use a strengthened national security review process to thwart Chinese acquisitions of sensitive American technologies, a softer approach than imposing China-specific investment restrictions.
The dollar was available against the Indian rupee at Rs 68.913, the greenback was at 4.037 in terms of the Malaysian ringgit and the US currency was at 6.617 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 83.70-83.75 (Previous 83.70-83.70).
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Open Bid Rs.123.50
Open Offer Rs.124.00
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Bid Rate Rs.121.54
Offer Rate Rs.121.56
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The US dollar resumed trading on a negative note and maintained declining trend for another day amidst lack of buyers' interest in the market. Resultantly, it further ended lower for buying and selling at Rs 123.25 and Rs 124.20 as compared to the overnight closing rates of Rs 123.40 and Rs 124.40 respectively, local currency dealers said.
Versus the pound sterling, the national currency also followed the same suit in process of trading. The pound's buying and selling rates further slipped from Wednesday's closing of Rs 160.70 and Rs 162.20 to Rs 159.55 and Rs 160.80 respectively, they added.
The dollar opened at Rs123.75 (buying) and Rs123.85 (selling) against last rate of Rs124 (buying) and Rs124.10 (selling). It closed at Rs123.75 (buying) and Rs123.85 (selling).