Downward trend was seen on currency market on Tuesday as the rupee shed modestly versus dollar, dealers said. The rupee inched up with a rise one paisa versus dollar for buying at 87.50 while it shed the same amount for selling at 87.54, they said.
Alarm over euro zone's debt has reached new highs and on Tuesday Italy was forced to offer the highest interest on five-year paper since it joined euro in 1999.
The euro fell 0.4 percent to $1.3622, giving up earlier modest gains which had been made on short-covering by hedge funds after news of the teleconference between the three European countries emerged. Interbank buy/sell rates for taka against dollar on Wednesday: 74.65/74.75 (previous 74.35-74.60). Call Money Rates: 6.50-9.25 percent (previous 6.50-9.50 percent).
The yuan ended up slightly against dollar on Wednesday as the People's Bank of China set a firmer mid-point after US Dollar index retreated from its highest level in more than six months. The dollar was trading the versus Indian rupee at Rs 47.22 and it was available at 3.0455 in terms of the Malaysian ringgit.
It appears that after gradual fall in relation to dollar, the rupee is heading to breach an important level of 88.00, money experts said. The rupee followed the same trend versus euro, losing Rs 1.04 for buying and selling at Rs 120.28 and Rs 120.78, they said.
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Open Buying Rs 87.50
Open Selling Rs 87.44
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Buying Rs 87.70
Selling Rs 87.90
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According to the moneychangers, the greenback opened at Rs 87.60 (buying) and Rs 87.85 (selling) against Rs 87.65 and Rs 87.90 of Tuesday. In the wake of surge in its demand, the dollar improved its worth and closed at Rs 87.70 and Rs 88.00 on buying and selling counters, respectively.
On the contrary, the British Pound was purchased and sold at Rs 139.30 and Rs 140.10 on buying and selling sides, respectively, as against Rs 139.60 and Rs 140.20 of Tuesday, the dealers said.
The dollar resumed trading at Rs 87.05 (buying) and Rs 87.20 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 87.05 (buying) and Rs 87.20 (selling).
Pound Sterling opened at Rs 138.45 (buying) and Rs 138.65 (selling) against the previous rate. It did not observe further change in the evening session and closed at Rs 138.45 (buying) and Rs 138.65 (selling).