The rupee managed to hold the overnight firmness against the dollar on the money market on Tuesday in the process of trading, dealers said. The rupee was unchanged versus the dollar for buying and selling at Rs 104.86 and Rs 104.87 respectively, they said.
The rupee lost further 30 paisas in relation to the euro for buying and selling at Rs 112.60 and Rs 114.10 respectively, they said. In the second Asian trade, the dollar pulled away from five-month lows versus the yen with comments from US Treasury Secretary Steven Mnuchin and higher debt yields giving the bruised greenback some breathing space.
Still, the dollar was capped by nervousness about Tuesday's economic dialogue between the United States and Japan. Lingering worries about North Korea and the coming French presidential elections also kept a lid on the dollar against the safe-haven yen.
Mnuchin told the Financial Times that he agreed with US President Donald Trump's view that the dollar's strength in the short term was hurting exports, but that he saw the currency's strength over the long term as a positive. Mnuchin's comments were seen countering those of the president, who last week said the dollar was too strong, sending it reeling.
The dollar was trading against the Indian rupee at Rs 64.560, the greenback was at 4.408 in terms of the Malaysian ringgit and the US currency was at 6.8835 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 79.85-79.85 (previous 79.81-79.82).
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Open Bid Rs.106.00
Open Offer Rs.106.20
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Bid Rate Rs.104.86
Offer Rate Rs.104.87
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According to currency dealers, the US dollar commenced trading on a negative note amidst lack of buyers' interest in the market. At the close, it slid to Rs 106.00 and Rs 106.20 on buying and selling sides, respectively, as compared to the overnight closing rates of Rs 106.10 and Rs 106.35 respectively, they added.
On the contrary, the local currency remained under pressure for the second consecutive day against the pound sterling. The pound' buying and selling rates further rose from Monday's closing rates of Rs 132.00 and Rs 132.70 to Rs 133.20 134.20 respectively, they added.
The dollar opened at Rs 106.35 (buying) and Rs 106.45 (selling) against same last rate. It closed at same rate in evening session.
Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It closed at the same rate.