The rupee recovered sharply against the dollar on the money market on Thursday in the process of trading, dealers said. The rupee picked up one paisa versus the dollar for buying and selling at Rs 104.80 and Rs 104.81 respectively.
The dollar rose 0.3 percent to 112.265 yen after nearing a 10-week low of 111.590 the previous day. The greenback was hit as Treasury yields slid sharply overnight. The dollar index against a basket of major currencies was up 0.1 percent at 100.370.
The dollar was available against the Indian rupee at Rs 67.03, the greenback was at 4.4370 in terms of the Malaysian ringgit and the US currency was trading at 6.8655 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 79.20-79.20 (previous 79.20-79.20).
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Open Bid Rs 107.20
Open Offer Rs 107.40
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Bid Rate Rs 104.80
Offer Rate Rs 104.81
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According to currency dealers, the US dollar resumed trading on a depressed note and remained under selling pressure during the day's trading session. At the close, it further declined to Rs 107.00 and Rs 107.40 on buying and selling counters as compared to the Wednesday's closing rates of Rs 107.40 and Rs 107.70, respectively, they added.
Furthermore, the local currency showed mixed pattern as it moved both ways against the pound sterling. The British currency was purchased and sold at Rs 133.70 and Rs 134.00 as compared to the overnight closing rates of Rs 133.50 and Rs 134.80, respectively, they said.