Steadier trend was witnessed on the money market on Thursday as the rupee held the overnight levels against the dollar in process of trading activity, dealers said.
In the fourth Asian trade, the dollar rose to a six-month high against the yen and steadied against other major peers on Thursday after US inflation data reaffirmed expectations that the Federal Reserve will hike interest rates two more times this year.
While financial markets remained vexed by fears of a full-scale Sino-US trade war, investors' focus was drawn to the slightly stronger-than-expected producer price reading which boosted confidence in the world's top economy.
The dollar firmed 0.3 percent to 112.29 yen after rising as much as 1.3 percent in US trade on Wednesday, breaching the 112-barrier for the first time since Jan. 10.
The dollar's index against a basket of six major currencies edged up towards a one-week high of 94.769 reached overnight, trading at 94.753.
The dollar was trading against the Indian rupee at Rs 68.645, the US currency was at 4.039 in terms of the Malaysian ringgit and the greenback was available at 6.690 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 83.75-83.75 (Previous 83.75-83.75).
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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.121.55
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According to currency dealers, the greenback resumed trading on its overnight closing trend of Rs 123.00 and Rs 124.00 as its buying and selling rates, respectively. At the close, the greenback depreciated by 20 paisas and ended for buying at Rs 123.20 whereas it firmly held its opening trend for selling, they added.
Moreover, the national currency showed divergent trend as it moved both ways in terms of trading against the sterling which was bought and sold at Rs 161.00 and Rs 162.70 against Wednesday's closing of Rs 161.70 and Rs 163.00 respectively, they said.
The dollar opened at Rs 124.50 (buying) and Rs 124.60 (selling) against the last rate of Rs 124.20 (buying) and Rs 124.30 (selling). It closed at Rs 124.50 (buying) and Rs 124.60 (selling).