THE RUPEE: slight fall

The rupee slid marginally against the dollar on the money market during week, ended on January 28, 2018. In the open market, the rupee fell by 20 paisas in terms of the dollar for buying at Rs 107.40 and the national currency as also shed 10 paisas for selling at Rs 107.70.
The rupee gained 30 paisas in terms of the euro for buying and selling at Rs 115.20 and Rs 116.70.
In the interbank market, the rupee traded in a tight range, showing no major variation versus the dollar for buying and selling at Rs 104.85 and Rs 104.86.
The rupee showed no major differences against the US currency on the money market during the day, experts said.
Country's foreign exchange reserves amounted 23.2 billion dollars, may ease the supply of dollars.
Commenting on the policy rate announcement, currency viewers said that the State Bank of Pakistan's (SBP) decision, it left the policy rate unchanged at 5.75 percent, which likely to help in reviving the confidence of investors' in the coming days.
They also said that country's exports may show some improvement following the issuance of statutory regulatory orders (SROs) and different relief packages to give a boost to the agriculture sector, particu7larly, textile sector, which is the biggest source of foreign exchange earnings.
OPEN MARKET RATES: On Monday, the rupee posted fresh gains of 40 paisas in terms of the dollar for buying at Rs 107.20 and it also gained 20 paisas for selling and Rs 107.60.
The rupee, however, lost 40 paisas in terms of the euro for buying and selling at Rs 114.50 and Rs 116.00. On Tuesday, the rupee managed to sustain last levels in terms of the dollar for buying and selling at Rs 107.20 and Rs 107.60. The rupee shed 25 paisas in terms of the euro for buying and selling at Rs 114.75 and Rs 116.25.
On Wednesday, the rupee slipped by 10 paisas in terms of the dollar for buying at Rs 107.30 while it did not budge any side for selling at Rs 107.60. The rupee lost sharply in terms of the euro for buying and selling at Rs 115.25 and Rs 116.75.
On Thursday, the rupee extended overnight slide in terms of the dollar, losing 10 paisas for buying and selling at Rs 107.40 and Rs 107.70.
The rupee shed five paisas in terms of the euro for buying and selling at Rs 115.30 and Rs 116.80.
On Friday, the rupee managed to retain last levels in relation to the dollar for buying and selling at Rs 107.40 and Rs 107.70. The rupee gained 30 paisas in terms of the euro for buying and selling at Rs 115.00 and Rs 116.50.
On Saturday, the rupee retained overnight levels in relation to the dollar for buying and selling at Rs 107.40 and Rs 107.70. The rupee lost 20 paisas in terms of the euro for buying and selling at Rs 115.20 and Rs 116.70.
INTERBANK MARKET RATES: On January 23, the rupee showed no major changes in relation to the dollar for buying and selling at Rs 104.85 and Rs 104.86. Remaining days of the week, the rupee moved in a narrow band versus the dollar.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the dollar skidded, with the euro hitting its highest levels in more than a month as investors locked in gains on the greenback's recent rise as they waited for US President Donald Trump to offer details of his promised stimulus.
The euro firmed 0.4 percent on the day to $1.07400 after earlier rising to $1.07460, its highest since December 8. The dollar was trading against the Indian rupee at Rs 68.06, the greenback was at 4.4380 in terms of the Malaysian ringgit and the US currency was at 6.8456 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday. 78.96-78.98 (previous 78.95-78.95).
In the second Asian trade, the dollar wallowed near seven-week lows in Asian trade, pressured by concerns about the impact of U.S President Donald Trump's protectionist trade stance.
The dollar index, which tracks the greenback against a basket of six major peers, slipped 0.1 percent to 100.040, after falling to 99.899 on Monday, its lowest since December 8.
The dollar was trading against the Indian rupee at Rs 68.12, the greenback was at 4.4335 in terms of the Malaysian ringgit and the US currency was at 6.8540 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Tuesday. 78.97-78.98 (previous 78.96-78.98).
In the third Asian trade, the dollar drifted lower against the yen and euro, as lingering concerns about US President Donald Trump's protectionist stance undermined the greenback's earlier rebound.
The euro was a shade higher at $1.0733. The common currency had lost about 0.3 percent overnight, sliding from a near seven-week high of $1.0775.
The dollar was available against the Indian rupee 68.15, the greenback was at 4.4380 in terms of the Malaysian ringgit and the US currency was at 6.8773 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday. 78.99-79.00 (previous 78.97-78.98).
In the fourth Asian trade, the dollar slumped to seven-week lows, pressured by investors' concerns about US protectionism after President Donald Trump gave the go-ahead to construction of a US-Mexican border wall and prepared to impose some immigration curbs.
The dollar was trading against the Indian rupee at Rs 68.08, the greenback was at 4.4300 in terms of the Malaysian ringgit and the US currency was at 6.8818 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Thursday. 79.03-79.05 (previous 78.99-79.00).
In the final Asian trade, the dollar perked up, rebounding from a seven-week low on optimism over the US economic outlook and corporate earnings, while the Mexican peso fell after the White House floated the idea of a 20 percent tax on Mexican goods to pay for a border wall.
The dollar was trading against the Indian rupee at Rs 68.17, the greenback was available at 4.4280 in terms of the Malaysian ringgit and the US currency was at 6.8807 versus the Chinese yuan.
At the week-end, the dollar rose against the yen, extending a broad trend that has been in place since US President Donald Trump's election in November on expectations of more pro-growth policies to bolster an economy that has improved but sputtered at times.
The greenback has climbed for two straight days, pulling it back from seven-week lows against a basket of currencies on the view that it would gain from a rise in border tariffs, tax reform and future spending.
"Donald Trump's ambitious fiscal plans point to stronger growth in the coming quarters," said Fawad Razaqzada, market analyst at Forex.com in London.