The rupee dropped slightly against the dollar on the money market on Tuesday in the process of trading, money experts said. The rupee was almost inert in terms of the dollar for buying and selling at Rs 115.61 and Rs 115.62 respectively, they said.
An index that tracks the dollar against a basket of six currencies steadied around 89.430 after a 0.4 percent fall on Monday, not far from its two-week low of 89.355 last week.
Against the yen, the dollar softened to 107.04 yen, off its seven-week high of 107.78 yen touched on Friday as traders braced for a meeting between US President Donald Trump and Japanese Prime Minister Shinzo Abe on Tuesday and Wednesday.
The dollar was available against the Indian rupee at Rs 65.530, the greenback was at 3.885 in terms of the Malaysian ringgit and the US currency was available at 6.282 against the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 82.98-82.98 (Previous 82.98-82.98).
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Open Bid Rs.116.60
Open Offer Rs.116.90
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Bid Rate Rs.115.61
Offer Rate Rs.115.62
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According to currency dealers, the short supply phenomenon of the US dollar prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 116.60 and Rs 116.95 as compared to the overnight closing trend of Rs 116.55 and Rs 116.80 respectively.
Similarly, the local currency also followed the same suit and remained under pressure for the second consecutive day versus the pound sterling. Consequently, the pound's buying and selling rates further rose from Monday's closing of Rs 165.40 and Rs 166.40 to Rs 166.35 and Rs 167.20 respectively, they added.
The dollar opened at Rs 116.60 (buying) and Rs 116.70 (buying) against same last rate. It closed at Rs 116.60 (buying) and Rs 116.70 (buying).