The rupee managed to recover overnight losses against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee did not move sharply in relation to the US currency for buying and selling at Rs 124.22 and Rs 124.23, they added.
In the third trade, the US dollar edged lower against a basket of currencies on Wednesday as its recent rally on global trade tensions showed signs of fading, while the offshore yuan steadied near a one-week high.
In a reminder of the growing trade disputes, the US Trade Representative's office said late on Tuesday that the United States would begin collecting 25 percent tariffs on another $16 billion of goods it imports from China later this month.
Since mid-April, the dollar index has risen more than 6 percent, supported by rising interest rates and fears over the impact of trade conflicts.
The dollar was trading against the India rupee at Rs 68.645, the greenback was at 4.073 in relation to the Malaysian ringgit and the US currency was available at 6.825 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 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.124.22
Offer Rate     Rs.124.23
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