Divergent trend was witnessed on the money market on Monday as the rupee shed modestly against the dollar in the inter-bank market, while the national currency was unmoved on the open market in process of trading, dealers said.
In the first trade, the dollar held firm against a basket of its peers on Monday after US job data reinforced investors' expectations the Federal Reserve will gradually raise interest rates this year.
The dollar, which measures the greenback against a basket of six other major currencies, was about 0.1 percent higher at 95.259, crawling back to a more-than-one-year peak of 95.652 reached on July 19.
US job growth slowed more than expected in July, but a fall in the unemployment rate suggested that labour market conditions were tightening. The euro was frail after slipping to a 4-1/2-week low against the dollar on Monday.
The dollar was trading against the Indian rupee at Rs 68.623, the greenback was available versus the Malaysian ringgit at 4.075 and the US currency was at 6.830 in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday: 83.75-83.75 (Previous 83.75-83.75).
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Open Bid Rs.122.50
Open Offer Rs.123.50
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Bid Rate Rs.124.23
Offer Rate Rs.124.25
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According to the currency dealers, the dollar resumed trading on a depressed note and could not sustain due to lack of buyers' interest. At close of trading, the dollar ended lower at Rs 121.00 and Rs 122.50 as its buying and selling rate against the last week closing of Rs 121.50 and Rs 123.50, respectively.
Similarly, the rupee remained weak and declined on buying side while it improved its value on selling side against the pound sterling that was purchased and sold at Rs 155.50 and Rs 157.00 against the previous closing of Rs 155.00 and Rs 158.00, the dealers said.
The dollar opened at Rs 123 (buying) and Rs 123.10 (selling) last rate of Rs 122 (buying) and Rs 122.10 (selling). It closed at Rs 123 (buying) and Rs 123.10 (selling).