The rupee's value versus the dollar was almost unchanged on the money market on Wednesday in the process of trading, dealers said. The rupee recovered two paisas in relation to the greenback for buying and selling at Rs 104.83 and Rs 104.84 respectively, they said.
The dollar rose 0.3 percent to 112.690 yen after going as low as 112.060. It surged to 113.340 overnight on robust revised US GDP data but had failed to sustain the gains as US yields, a key driver of the dollar recently, initially pulled back from 16-month highs before rising in Asia on Wednesday. The euro was down 0.2 percent at $1.0632 following a rise to $1.0660. It had gained 0.3 percent overnight.
The rupee was trading against the Indian rupee at 68.62, the greenback was at 4.4640 in terms of the Malaysian ringgit and the US currency was at 6.8857 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 78.75-78.75 (previous 78.71-78.72).
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Open Bid Rs.107.60
Open Offer Rs.107.90
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Bid Rate Rs.104.83
Offer Rate Rs.104.84
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According to currency dealers, the US dollar commenced trading on a healthy note and kept moving up due to the presence of buyer' interest in the market. At the close, the dollar further ended higher at Rs 108.25 and Rs 108.50 on buying and selling rates, respectively, as compared to Tuesday's closing rates of Rs 107.70 and Rs 107.90, respectively, they added.
Similarly, the local currency failed to sustain its worth versus the pound sterling. The pound's buying and selling rates improved from the day earlier closing rates of Rs 133.50 and Rs 134.30 to Rs 133.80 and Rs 134.70, respectively, the dealers said.
The dollar opened at Rs 108 (buying) and Rs 108.10 (selling) against Rs 107 (buying) and Rs 107.10 (selling). It did not observe further change in evening session and closed at Rs 108 (buying) and Rs 108.10 (selling).
Pound Sterling opened at Rs 135 (buying) and Rs 135.20 (selling). It did not observe further change in the second session and closed at Rs 135 (buying) and Rs 135.20 (selling).