THE RUPEE: falling trend

The rupee drifted lower against the dollar and euro on the money market during the week, ended on April 7, 2018. In the open market, the rupee lost 40 paisas in terms of the dollar for buying and selling at Rs 116.20 and Rs 116.60. The rupee also shed 50 paisas versus the euro for buying and selling at Rs 141.50 and Rs 143.30. In the inter-bank market, the rupee fluctuated cautiously in terms of the dollar for buying and selling within the band of Rs 115.59 and Rs 115.60.
Commenting on the performance of the rupee, currency experts said that the rupee resisted sharp decline versus the dollar. If supply of dollars does not improve, the rupee may face erosion in its value in the coming days. They also observed that recent measures announced by the PM may not cast impact on the performance of the local currency.
OPEN MARKET RATES: On Monday, the rupee gave up gains against the dollar, shedding 10 paisas in relation to the dollar for buying and selling at Rs 115.80 and Rs 116.30. While, the rupee sustained it's levels in relation to the euro for buying and selling at Rs 141.00 and Rs 142.80.
On Tuesday, the rupee dropped by 20 paisas against the dollar for buying at Rs 116.00 while it shed 10 paisas for selling at Rs 116.40. The rupee also dropped by 50 paisas in relation to the euro for buying and selling at Rs 141.50 and Rs 142.80.
On Wednesday, the rupee dropped by 10 paisas against the dollar for buying and selling at Rs 116.10 and Rs 116.50. The rupee was almost unchanged in relation to the euro for buying and selling at Rs 141.50 and Rs 143.00.
On Thursday, the rupee slid by 10 paisas against the dollar for buying and selling at Rs 116.20 and Rs 116.60. The rupee drifted lower in relation to the euro, losing 30 paisas for buying and selling at Rs 141.80 and Rs 143.60.
On Friday, the rupee did not move any side against the dollar for buying and selling at Rs 116.20 and Rs 116.60. The rupee recovered overnight losses versus the euro, picking up 30 paisas for buying and selling at Rs 141.50 and Rs 143.30.
On Saturday, the rupee showed no visible change in terms of the dollar for buying and selling at Rs 116.20 and Rs 116.60. The rupee also did not move any side versus the euro for buying and selling at Rs 141.50 and Rs 143.30.
INTER-BANK MARKET RATES: On April 2, the rupee did not move sharply in terms of the dollar for buying and selling at Rs 115.49 and Rs 115.51, they said. On April 3, the rupee also lost around 10 paisas in terms of the dollar for buying and selling at Rs 115.59 and Rs 115.60. On April 4, the rupee shed two paisas in terms of the dollar for buying and selling at Rs 115.61 and Rs 115.62.
On April 5, the rupee moved with little change in terms of the dollar for buying and selling at Rs 115.60 and Rs 115.61. On April 6, the rupee fluctuated cautiously in terms of the dollar for buying and selling at Rs 115.59 and Rs 115.60.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the dollar held steady against the yen on Monday, taking a breather after last week's rally and as it treads cautiously amid lingering concerns over a US-China trade spat.
The dollar last traded at 106.32 yen, after having risen more than 1.5 percent last week for its biggest weekly gain since September 2017.
The dollar was trading against the Malaysian ringgit at 3.863 and the greenback was at 6.281 versus the in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday. 82.96-82.96 (Previous 82.96-82.96).
In the second Asian trade, the yen held firm on Tuesday as escalating US-China trade tensions stirred up fears over the outlook for global growth, sapping investors' risk appetite.
The dollar was little changed at 105.96 yen, struggling to gain traction after having fallen for three straight trading days, and trading below a two-week high around 107.00 yen set on March 28.
The yen had risen on Monday as US equities tumbled, with the S&P 500 sliding 2.2 percent as investors fled technology shares amid resurgent worries over a trade war.
The sell-off in US equities came after China imposed extra tariffs on US products, escalating a dispute between the world's two biggest economic powers.
The dollar was trading against the Indian rupee at Rs 65.095, the greenback was at 3.864 versus the Malaysian ringgit and the US currency was at 6.288 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday. 82.96-82.96 (Previous 82.96-82.96).
In the third Asian trade, the dollar eased against the yen on Wednesday, with the outlook clouded by worries that escalating US-China trade tensions could exert a toll on the global economy and US growth.
The dollar fell 0.1 percent to 106.50 yen, giving back some of the gains made on Tuesday, when it rose 0.6 percent against the Japanese currency.
The dollar was trading against the Indian rupee at Rs 64.900, the greenback was at 3.863 in terms of the Malaysian ringgit and the US currency was available at 6.291 versus the Chinese yuan.
In the fourth Asian trade, The dollar inched up against the yen on Thursday as stocks bounced back from a sell-off triggered by an escalating US-China trade dispute.
The greenback was 0.15 percent higher at 106.930 yen, having pulled higher from a low of 105.990 set the previous day.
The yen, often sought in times of market turmoil and political tensions, had rallied as Wall Street shares initially tumbled on Wednesday after China's swift move to impose retaliatory tariffs on US goods.
But a comeback by US equities helped the dollar bounce, as trade war concerns calmed somewhat after President Donald Trump's economic adviser Larry Kudlow said the administration was in "negotiation" with China, and not engaged in a trade war.
The dollar was trading against he Indian rupee at Rs 65.013 and the greenback was at 3.865 in terms of the Malaysian ringgit.
Inter bank buy/sell rates for the taka against the dollar on Thursday. 82.98-82.98 (Prev-ious 82.96-82.96).
In the final Asian trade, the dollar faltered on Friday after US President Donald Trump threatened $100 billion in additional tariffs on China, in a fresh escalation of trade tensions between the world's largest economies.
Increasingly combative statements from Washington and Beijing have stirred fears of a full-blown trade war that could hurt global economic growth, though investors are holding out hope that negotiations will result in a far less damaging compromise.
The dollar was available against the Indian rupee at Rs 64.995 and the greenback was 3.867 in terms of the Malaysian ringgit.
In the final NY trade, the dollar fell on Friday, undermined by the ongoing trade dispute between China and the United States and a report showing the US economy in March created the fewest jobs in six months.
The greenback slid against the safe-haven yen and Swiss franc in the wake of new comments from China.
China on Friday warned it would fight back "at any cost," hours after US President Donald Trump threatened to slap tariffs on an additional $100 billion in Chinese goods.