THE RUPEE: rates slip

A kind of weakness prevailed on the money market on Monday as the rupee tended lower against the dollar in the process of trading, dealers said.
The rupee also fell in terms of the euro, losing 20 paisas for buying at Rs 127.70 and the national currency slid by Rs 1.60 for selling Rs 128.95, they said.
In the first Asian trade, the euro hit a two-month high versus the dollar and held firm against other major currencies, thanks to strong German business confidence and reduced anxiety about political instability in Europe's biggest economy.
The euro fetched $1.1929, little changed from late US levels last week after having hit a high of $1.1946, its highest level in two months.
The common currency now faces a test at $1.1965. The euro rose to 133.24 yen, its highest since Nov 16 and it firmed on the British pound to 0.8978 pound, edging to near this month's peak of 0.9014.
The dollar was trading against the Indian rupee at Rs 64.73, the greenback was available at 4.113 versus the Malaysian ringgit and the US currency was at 6.600 in terms of the Malaysian ringgit.
Inter bank buy/sell rates for the taka against the dollar on Monday: 81.90-81.90 (previous 81.70-81.70).

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Open Bid       Rs 107.40
Open Offer     Rs 107.60
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Bid Rate       Rs 105.50
Offer Rate     Rs 105.51
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