All-round declines were seen on the currency market on Thursday as the rupee failed to retain its firmness against dollar and euro, experts said. The rupee drifted lower versus dollar, shedding 16 paisa for buying at 85.80 and losing 17 paisa for selling at 85.85, they said.
The market saw sizable stop-loss euro purchases at $1.4120 and $1.4150, encouraged by a Financial Times article quoting the chief executive of the European Financial Stability Facility as saying China was "clearly interested" in buying bonds for the Portugal bailout to be issued in mid-June.
A convincing recovery in commodity prices, in which the key US crude oil futures extended gains in Asia to above $101.50, also spurred active broad-based corrective buying of euro in Asian trade. The euro could revisit $1.42, but lingering uncertainty over debt problems in Greece and other euro zone countries was expected to limit strong follow-through moves.
Indian rupee was available at Rs 45.32 versus dollar, Malaysian ringgit was at 3.0420 in terms of the greenback and Chinese Yuan was at 6.4873 in terms of the US currency. Interbank buy/sell rates for taka against dollar on Thursday: 73.35/73.44 (previous 73.25/73.39). Call Money Rates: 6.50-12.00 percent (previous 6.00-12.00) percent.
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Open Buying Rs.86.00
Open Selling Rs.86.30
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Buying Rs.85.80
Selling Rs.85.85
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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 13.75 13.90 13.90 13.95 13.88
1-Week 12.50 13.40 13.30 13.45 13.16
2-Week 12.75 13.25 13.25 13.35 13.15
1-Month 12.75 13.25 13.25 13.30 13.14
2-Months 12.80 13.20 13.20 13.30 13.13
3-Months 12.90 13.20 13.25 13.30 13.16
4-Months 12.90 13.25 13.25 13.30 13.18
5-Months 13.00 13.35 13.35 13.40 13.28
6-Months 13.20 13.40 13.35 13.50 13.36
9-Months 13.25 13.50 13.50 13.60 13.46
1-Year 13.40 13.60 13.55 13.70 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 13.80 13.90 13.90 13.95 13.89
1-Week 12.60 13.45 13.35 13.50 13.23
2-Week 12.80 13.35 13.30 13.40 13.21
1-Month 12.90 13.35 13.30 13.40 13.24
2-Months 12.90 13.35 13.30 13.40 13.24
3-Months 13.10 13.45 13.30 13.50 13.34
4-Months 13.10 13.40 13.35 13.50 13.34
5-Months 13.25 13.50 13.40 13.60 13.44
6-Months 13.30 13.60 13.45 13.65 13.50
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 the currency dealers, because of fresh demand for dollar helped its appreciation in the open market. The dollar was traded at Rs 86.00 and Rs 86.30 on buying and selling side against the overnight closing of Rs 85.80 and Rs 86.20, respectively.
Similarly, the rupee remained under pressure and declined against the pound sterling. The pound was purchased and sold at Rs 140.00 and Rs 141.00, as compared to Wednesday closing of Rs 139.60 and Rs 140.00, respectively, the dealers said.
The dollar resumed trading at Rs 84.60 (buying) and Rs 85.20 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 84.60 (buying) and Rs 85.20 (selling).
Pound Sterling opened at Rs 136.50 (buying) and Rs 137.60 (selling) against the previous rate. It did not witness any change in the evening session and closed at Rs 136.50 (buying) and Rs 137.60 (selling).