Steadier trend was seen on the money market on Monday as the rupee did not show any visible change in terms of the dollar, experts said. The rupee shed one paisa versus the dollar for buying and selling at Rs 110.57 and Rs 110.58 respectively, they said.
The safe haven yen edged up as investors' risk appetites waned, with MSCI's broadest index of Asia-Pacific shares outside Japan slipping 0.4 percent.
Traders are also nervous after weekend polls suggested a massive drop in public support for Prime Minister Shinzo Abe over his handling of a festering cronyism scandal, which has raised doubts about his ability to press forward with his reflationary economic agenda including monetary easing.
The dollar was trading against the Indian rupee at Rs 65.025, the greenback was at 3.911 in terms of the Malaysian ringgit and the US currency was available at 6.333 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 82.96-82.96 (Previous 82.96-82.96).
The rupee also retained its levels versus the euro for buying and selling at Rs 136.00 and Rs 137.50 respectively, they added.
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Open Bid Rs.111.50
Open Offer Rs.111.80
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Bid Rate Rs.110.57
Offer Rate Rs.110.58
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According to currency dealers, the demand and supply situation of the US dollar continued to fluctuate throughout the trading session following divergent buyers' interest in the market. At the close, it was ended for buying and selling at Rs 111.37 and Rs 111.65 as compared to the last closing trend of Rs 111.20 and Rs 112.00 respectively, they added.
Furthermore, the local currency witnessed a considerable decline versus the pound sterling. Resultantly, the pound's buying and selling rates rose from Saturday's closing of Rs 153.70 and Rs 155.20 to Rs 155.20 and Rs 156.20 respectively, they said.
The dollar opened at Rs 111.60 (buying) and Rs 111.80 (selling) against last rate of Rs 111.40 (buying) and Rs 111.60 (selling). It closed at Rs 111.60 (buying) and Rs 111.80 (selling).