The rupee almost managed to hold recent levels against the dollar on the money market on Monday, dealers said. The rupee shed two paisas against the dollar for buying and selling at Rs 104.86 and Rs 104.87 respectively, they said.
In the first Asian trade, Sterling stole the spotlight from the dollar, which has come under pressure in recent sessions as investors pondered what to expect from US President-elect Donald Trump's economic policies after he takes office on Friday.
The pound sank as low as $1.1983 in thin early trade, depths not seen since the flash crash of early October. It last stood at $1.2032, down 1.2 percent on the day.
Dealers said the market was reacting in part to a report in The Sunday Times newspaper that British Prime Minister Theresa May will this week signal plans for a "hard Brexit" by saying she's willing to quit the European Union's single market to regain control of Britain's borders.
The dollar was available at Rs 68.15 versus the Indian rupee, the greenback was at 4.4640 in relation to the Malaysian ringgit and the US currency was at 6.8919 against the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday: 78.88-78.88 (previous 78.85-78.86).
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Open Bid Rs.108.40
Open Offer Rs.108.60
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Bid Rate Rs.104.86
Offer Rate Rs.104.87
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According to currency dealers, the US dollar commenced trading on its Saturday's closing of Rs 108.40 and Rs 108.60 as its buying and selling rates, respectively.
No change in the value of dollar took place as it sustained its last trading trend of Rs 108.40 on buying counter.
However, following the selling spree, it rose to Rs 108.70 on selling counter, respectively, they added.
Furthermore, the local currency showed strength as it registered appreciation versus the pound sterling.
The pound's buying and selling rates went down from the last week's closing rates of Rs 131.35 and Rs 132.35 to Rs 130.20 and Rs 131.20, respectively, they said.
The dollar opened at Rs 108.30 (buying) and Rs 108.40 (selling) against last week rate of Rs 108.50 (buying) and Rs 108.60 (selling).
By the end of second session, the dollar closed at Rs 108.30 (buying) and Rs 108.40 (selling). Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It did not observe further change in the second session and closed at Rs 130 (buying) and Rs 131.50 (selling).