A kind of stability prevailed on the money market on Tuesday as the rupee held overnight levels in terms of the dollar in the process of trading, dealers said. The rupee showed no change versus the dollar for buying and selling at Rs 104.81 and Rs 104.82.
In the second Asian trade, the dollar edged away from three-week highs against a basket of currencies as investors awaited congressional testimony by Federal Reserve Chair Janet Yellen for clues to the pace of the central bank's interest rate increases.
The dollar index was down 0.1 percent on the day at 100.88, edging away from Monday's high of 101.11, which was its loftiest peak since January 20. The dollar was down 0.2 percent at 113.48 yen, below Monday's high of 114.17 but well above a 10-week low of 111.59 yen touched a week ago. Yellen will present the US central bank's semi-annual report on monetary policy and the economy in testimony to the Senate Banking Committee on Tuesday, followed by a the semi-annual monetary testimony before the House Financial Committee on Wednesday.
The dollar was trading against the Indian rupee at Rs 66.93, the greenback was at 4.4450 in terms of the Malaysian ringgit and the US currency was at 6.8723 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday 79.23-79.25 (previous 79.22-79.22).
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Open Bid Rs.107.10
Open Offer Rs.107.30
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Bid Rate Rs.104.81
Offer Rate Rs.104.82
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The dollar opened at Rs 108.10 (buying) and Rs 108.20 (selling) against dollar and closing was seen at the same levels. Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It closed at Rs 130 (buying) and Rs 131.50 (selling).