The rupee gained slightly against the dollar on the currency market on Thursday in the process of trading, dealers said. The rupee moved up slightly against the dollar, gaining three paisas for buying and selling at Rs 104.71 and Rs 104.72 respectively, they said.
In the fifth Asian trade, the euro was under pressure in Asian trade on Thursday ahead of a European Central Bank meeting at which policymakers were expected to take further easing steps, while the kiwi skidded after the Reserve Bank of New Zealand surprised with an interest rate cut.
The New Zealand dollar nursed losses after tumbling more than a cent after the RBNZ's decision early on Wednesday to cut its official cash rate by 25 basis points to 2.25 percent, citing a material decline in a range of inflation expectation measures. The central bank also signalled at least one more rate cut to come.
The rupee was available at Rs 67.08 in relation to the Indian rupee, the greenback was at 4.1150 in terms of the Malaysian ringgit and the US currency was at 6.5157 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 78.40-78.41 (previous 78.40-78.40).
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Open Bid Rs 105.60
Open Offer Rs 105.80
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Bid Rate Rs 104.71
Offer Rate Rs 104.72
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The dollar ended at Rs 105.60 and Rs 106.10 on buying and selling respectively as compared with the overnight of Rs 105.30 and Rs 106.00 respectively against the dollar that staged a comeback following buyers' interest.
The rupee too drifted down on buying and selling side against the pound sterling that was traded at Rs 149.00 and Rs 150.00 on buying and selling as compared with the Thursday closing of Rs 148.30 and Rs 149.50 respectively, they added.
The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).