The rupee managed to recover modestly against the dollar on Wednesday in the process of trading activity, dealers said. The rupee picked up 40 paisas in terms of the dollar for buying and selling at Rs 112.00 and it also gained 20 paisas for selling at Rs 112.50, they said. While, the rupee dropped by 50 paisas against the euro for buying and selling at Rs 139.50 and Rs 141.50 respectively, they added.
In the third Asian trade, the dollar inched lower against a basket of major rivals on Wednesday, showing scant reaction so far to US President Donald Trump's State of the Union address.
In his speech, Trump urged bitterly divided Republicans and Democrats to work toward compromises on immigration and infrastructure after a bruising year of partisan battles that centred on Trump's leadership.
The dollar index, which measures the greenback against a basket of six major currencies, was last down 0.1 percent on the day at 89.062, staying above a three-year low around 88.43 set last week.
The euro edged up 0.2 percent to $1.2426. The yen was on the backfoot, after the Bank of Japan increased its buying of medium-term Japanese government bonds (JGBs) in a move seen as a warning shot against further rises in bond yields.
The dollar tacked on 0.1 percent to 108.87 yen, having risen to as high as 109.095 yen after the BOJ announcement.
The BOJ's move came after the 10-year JGB yield had risen to a 6-1/2-month high of 0.095 percent on Tuesday. The central bank's policy guidance is to control the 10-year yield "around zero percent."
The dollar was trading against the Indian rupee at Rs 63.68 and the greenback was available at 6.309 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday: 82.90-82.90 (Previous 82.90-82.90).
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Bid Rate Rs 112.40
Offer Rate Rs 112.70
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Bid Rate Rs 110.45
Offer Rate Rs 110.55
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According to currency dealers, the greenback commenced trading on its overnight closing trend of Rs 112.30 and Rs 112.60 as its buying and selling rates, respectively. At the close, it shed 20 paisas for buying at Rs 112.10.
However, it firmly held its opening trend for selling at Rs 112.60, they added.
Moreover, the national currency moved both ways in terms of the pound sterling.
The British currency was bought and sold at Rs 157.80 and Rs 158.10 against Rs 157.50 and Rs 158.40 of Tuesday, they said.
The dollar opened at Rs 112.25 (buying) and Rs 112.35 (selling) against last rate. It closed at Rs 112.25 (buying) and Rs 112.35 (selling).