THE RUPEE: no visible change

19 Jan, 2016

No visible change was seen on the money market on Monday as the rupee was almost unchanged versus the dollar in the process of trading, dealers said. The rupee shed two-paisa in terms of the dollar for buying and selling at Rs 104.94 and Rs 104.95 respectively, they said.
While, the rupee also depicted no variation versus the euro for buying and selling at Rs 116.00 and Rs 117.00 respectively, they added. In the first Asian trade, the safe-haven yen got off to a flying start on Monday, while the Australian dollar, usually sold off in times of market stress, stayed under pressure as Asian equities geared up for a torrid session following a big sell-off on Wall Street.
The dollar slid to 116.56 yen, from 117.10 late in New York. A break below 116.15 - its August trough - will take the greenback back to one-year lows. It last stood at 116.77. The euro dipped to a one-week low of 127.48 yen, while the Aussie dollar was pinned near Friday's three-year trough of 79.52 yen.
The dollar was trading against the Indian rupee at Rs 67.56, the greenback was at 4.4080 in terms of the Malaysian ringgit and US currency was at 6.5788 in relation to the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday: 78.50-78.50 (previous 78.50-78.50).



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Open Bid Rs.106.10
Open Offer Rs.106.30
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Bid Rate Rs.104.94
Offer Rate Rs.104.95
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The rupee proved its worth after an earlier loss on buying side while it stayed unchanged on selling against the pound sterling that was traded at Rs 153.10 and Rs 154.00 on buying and selling as compared with the previous closing of Rs 153.50 and Rs 154.00.

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