The rupee sustained its overnight levels against the dollar in the proccess of trading, dealers said The rupee did not show any visible change versus the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectively, they said.
In the second Asian session, the dollar limped off multi-month lows against major peers, with much of the lift from the "Trump trade" now gone. The greenback had taken a beating as market participants saw the prospects for a US fiscal spending boost from President Donald Trump significantly diminished by his failure to pass a key healthcare reform bill.
"Clearly, the dollar is reacting to concerns that President Trump might not be able to push through his legislative agenda, given the fact that they've ditched, at least for now, healthcare reform," said Mitul Kotecha, head of FX and rates strategy for Barclays in Singapore. The dollar was trading against the Indian rupee at 65.035, the greenback was at 4.415 in terms of the Malaysian ringgit and the US currency as at 6.885 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday; 79.66-79.67 (previous 79.65-79.65).
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Open Bid Rs.106.30
Open Offer Rs.106.50
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Bid Rate Rs.104.85
Offer Rate Rs.104.86
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According to currency dealers, the trading of the greenback resumed on its overnight closing trend of Rs 106.10 and Rs 106.50 as its buying and selling rates, respectively. At the close, no change in its value took place as it sustained its overnight closing trend of Rs 106.10 on buying counter.
However, in the absence of selling spree, it slid to Rs 106.40 on selling counter respectively, they added. Moreover, the local currency showed stability and stayed unchanged on buying side at Rs 132.10 against the British pound. However, it appreciated on selling side and ended higher at Rs 133.00 as compared to Monday's closing rate of Rs 132.80, they said.