Slight changes were seen on the money market on Monday as the rupee almost managed to sustain weekend levels in terms of the dollar in the process of trading, dealers said. The rupee was lower by two paisas in relation to the dollar for buying and selling at Rs 104.85 and Rs 104.86, they said.
The latest spike in European political risks nudged down the dollar against the yen by pushing down Treasury yields to one-week lows of 2.4 percent. The dollar was little changed at 113.090 yen, not far from 112.620, its lowest since February 9 touched on Friday.
The dollar index against a basket of currencies was steady at 100.930. The index had risen for 10 straight days earlier this month before losing momentum despite a string of solid US data, to the frustration of dollar bulls. The dollar was trading against the Indian rupee at Rs 66.98, the greenback was at 4.4560 versus the Malaysian ringgit and the US currency was at 6.8689 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday. 79.30-79.30 (previous 79.30-79.30).
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Open Bid Rs.107.00
Open Offer Rs.107.20
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Bid Rate Rs.104.85
Offer Rate Rs.104.86
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According to currency dealers, the dollar demand remained intact that kept the local currency under pressure during the trading session. At the close, it's buying and selling rates went up from the Saturday's closing rates of Rs 107.00 and Rs 107.30 to Rs 107.20 and Rs 107.45, respectively, they added.
Likewise, the local currency also followed the same suit against the pound sterling. The pound's buying and selling rates rose from the last week's closing rates of Rs 131.80 and Rs 132.50 to Rs 132.60 and Rs 133.25, respectively, they said.
The dollar opened at Rs 108.10 (buying) and Rs 108.20 (selling) and it closed at the same rate.
Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It closed at the same rate.