An upward trend prevailed on the money market on Thursday as the rupee improved in relation to the dollar during post-election session, dealers said.
In the fourth Asian trade, the dollar slipped on Thursday and the euro edged higher, as immediate concerns about global trade tensions ebbed after the United States and the European Union agreed to begin talks to lower tariffs.
Following talks on Wednesday with European Commission President Jean-Claude Juncker, US President Donald Trump said they agreed to "work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods."
The euro was up 0.1 percent at $1.1738, extending its rise after gaining 0.4 percent the previous day. Early on Wednesday, before the Trump-Juncker talks, the single currency slipped to a low of $1.1664 on media reports that Trump was considering imposing a 25 percent tariff on foreign-made cars. But it bounced back on comments of the two leaders that showed desire to find solutions to trade conflicts between the US and European Union.
Extending overnight losses, the dollar index against a basket of six major currencies was down 0.25 percent at 94.134 after brushing 94.087, its lowest since July 10.
The dollar was trading against the Indian rupee at Rs 68.703, the US currency was at 4.058 in terms of the Malaysian ringgit and the greenback was at 6.783 in relation to 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.129.00
Open Offer Rs.129.30
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Bid Rate Rs.128.15
Offer Rate Rs.128.20
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According to currency dealers, the greenback commenced trading on a negative note following lack of buyers' interest in the market. Consequently, it ended lower for buying and selling at Rs 128.20 and Rs 129.00 as compared to the last closing trend of Rs 129.20 and Rs 130.00 respectively, they added.
The national currency, however, declined by 30 paisas versus the British pound. The pound's buying and selling rates rose from Tuesday's closing of Rs 165.20 and Rs 166.20 to Rs 165.50 and Rs 166.50 respectively, they said.
The dollar opened at Rs129.50 (buying) and Rs129.60 (selling) against last rate of Rs130 (buying) and Rs130.10(selling). It closed at Rs129.50 (buying) and Rs129.60 (selling).