Firmness prevailed on the currency market on Wednesday as the rupee managed to recover some ground versus the dollar, money experts said. The rupee gained 11 paisa versus the dollar for buying at 84.41 and it also rose by 12 paisa for selling at 84.46, they said.
Gains in US and European shares on upbeat corporate results helped soothe market sentiment after nerves were rattled on Monday by S&P's warning on US credit ratings and on fears that Greece will have to restructure its debt. While those problems remain unresolved, the moves showed investors continue to favour higher-yielding currencies at the expense of the dollar and yen, and a rise in Asian equities underscored a rebound in risk-taking sentiment. "The fact that there was little emotional reaction after the S&P move perhaps helped to improve investors' sentiment towards risk," said Makoto Noji, senior strategist at SMBC Nikko Securities in Tokyo.
Interbank buy/sell rates for the taka against the dollar on Wednesday.
72.75/72.83 (previous 72.78/72.86). Call Money Rates: 6.00-12.00 percent (previous 6.00-12.00 percent). Indian rupee was trading at Rs 44.48 versus the dollar, Malaysian ringgit was at 3.0170 against the greenback and Chinese yuan was trading at 6.5264 in relation to the US currency.
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Open Buying Rs 84.40
Open Selling Rs 84.60
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Buying Rs.84.41
Selling Rs.84.46
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Repo Rates (Yield p a)
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Tenor Low Bid High Bid Low Offer High Offer Average
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Overnight 13.00 13.90 13.50 13.90 13.58
1-Week 11.50 13.10 13.00 13.15 12.69
2-Week 11.60 13.00 13.05 13.10 12.69
1-Month 11.90 13.10 13.10 13.15 12.81
2-Months 12.40 13.20 13.20 13.25 13.01
3-Months 12.90 13.20 13.25 13.30 13.16
4-Months 13.00 13.25 13.30 13.35 13.23
5-Months 13.20 13.35 13.35 13.40 13.33
6-Months 13.35 13.50 13.45 13.55 13.46
9-Months 13.40 13.60 13.50 13.65 13.54
1-Year 13.45 13.60 13.55 13.65 13.56
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Call Rates (Yield p a)
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Tenor Low Bid High Bid Low Offer High Offer Average
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Overnight 13.00 13.90 13.50 13.95 13.59
1-Week 12.25 13.15 13.10 13.20 12.93
2-Week 12.40 13.05 13.00 13.15 12.90
1-Month 12.70 13.15 13.10 13.25 13.05
2-Months 13.00 13.25 13.25 13.35 13.21
3-Months 13.10 13.35 13.30 13.45 13.30
4-Months 13.25 13.50 13.40 13.60 13.44
5-Months 13.40 13.60 13.45 13.65 13.53
6-Months 13.45 13.65 13.55 13.75 13.60
9-Months 13.50 13.70 13.60 13.75 13.64
1-Year 13.50 13.75 13.60 13.90 13.69
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According to dealers, the dollar was traded at Rs 84.40 and Rs 84.60 as its buying and selling rates, respectively.
However, pound's buying and selling rates improved from overnight Rs 137.00 and Rs 137.50 to Rs 137.50 and Rs 138.00, respectively, dealers said.
The dollar resumed trading at Rs 85.10 (buying) and Rs 85.45 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 85.10 (buying) and Rs 85.45 (selling).
Pound Sterling opened at Rs 136.35 (buying) and Rs 137.55 (selling) against the previous rate. It did not witness any change in the evening session and closed at Rs 136.35 (buying) and Rs 137.55 (selling).