THE RUPEE: stable trend


The rupee sustained it’s present levels against the dollar during the week, ended on August 08, 2015. In the interbank market, the rupee gained three paisas against the dollar for buying and selling at Rs 101.81 and Rs 101.82.

In the open market, the rupee maintained its last levels versus the dollar for buying and selling at Rs 102.80 and Rs 103.00. The rupee, drifted lower in relation to the euro, shedding 75 paisas for buying and selling at Rs 112.25 and Rs 113.25.

On the back of easy supply of dollars, the rupee managed to hold firmness and it may not fluctuate sharply in the near future, experts said. The country’s foreign exchange reserves during the last week stood at 18.82 billion dollars.

INTER-BANK MARKET RATES: On Monday, the rupee shed six-paisa versus the dollar for buying and selling at Rs 101.84 and Rs 101.85. On Tuesday, the rupee firmly held the overnight levels in terms of the dollar for buying and selling at Rs 101.84 and Rs 101.85. On Wednesday, the rupee inched up by one paisa in terms of the dollar for buying and selling at Rs 101.83 and Rs 101.84.

On Thursday, the rupee managed to recover four paisas in terms of the dollar for buying and selling at Rs 101.79 and Rs 101.80. On Friday, the rupee shed two paisas in terms of the dollar for buying and selling at Rs 101.81 and Rs 101.82.

OPEN MARKET RATES: On August 3, the rupee sustained last levels against the dollar for buying and selling at Rs 102.80 and Rs 103.00. The local currency, shed 25 paisas versus the euro for buying and selling at Rs 111.50 and Rs 112.50. On August 4, the rupee did not move any side against the dollar for buying and selling at Rs 102.80 and Rs 103.00. The local currency followed the same track in relation to the euro, it sustained last levels for buying and selling at Rs 112.00 and Rs 113.00.

On August 5, the rupee firmly held the last levels against the dollar for buying and selling at Rs 102.80 and Rs 103.00. The local currency was slight higher in relation to the euro, rising 10-paisas for buying and selling at Rs 112.00 and Rs 113.00.

On August 6, the rupee sustained last levels against the dollar for buying and selling at Rs 102.80 and Rs 103.00. The local currency managed to recover 75 paisas versus the euro for buying and selling at Rs 111.25 and Rs 112.25. On August 7, the rupee held the overnight levels against the dollar for buying and selling at Rs 102.80 and Rs 103.00 respectively. The local currency dropped by 50 paisas versus the euro for buying and selling at Rs 112.00 and Rs 113.00.

On August 8, the rupee did not move any side in terms of the dollar for buying and selling at Rs 102.80 and Rs 103.00. While, the local currency 25 paisas versus the euro for buying and selling at Rs 112.25 and Rs 113.25.

OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, most emerging Asian currencies rose after weak US wage growth clouded views on when US interest rates were likely to rise, but the outlook for them was gloomy given the growing concerns over China’s slowing economy.

The Malaysian ringgit’s woes worsened due to the political pressures on Prime Minister Najib Razak as a result of the scandal over indebted state-fund 1MDB. There were some doubts over how heavily Bank Negara Malaysia would intervene to prop up the currency if foreign reserves dwindled too fast.

The dollar was available against the Indian rupee at Rs 63.97, the greenback was at 3.8460 in terms of the Malaysian ringgit and the US currency was at 6.2097 versus the Chinese yuan.

In the second Asian trade, the Canadian dollar languished at 11-year lows as a continuing sell-off in oil prices thrust the loonie and other commodity currencies such as the Australian dollar into the spotlight, stealing the focus from a subdued US dollar that held steady against the euro and yen.

In a bearish turn of events for currencies of oil exporters, crude prices slid a further 5 percent overnight to their lowest since January after weak factory activity in China deepened a commodity-wide rout.

The dollar was available against the Indian rupee at Rs 63.93, the greenback was trading versus the Malaysian ringgit at 3.8570 and the US currency was at 6.2094 in the terms of the Chinese yuan.

In the third Asian trade, the dollar extended gains against the yen and euro after Atlanta Federal Reserve President Dennis Lockhart expressed support for an interest rate hike in September.

The dollar nudged up 0.1 percent to 124.46 yen after pulling away from an overnight low of 123.80. The euro slid to a two-week low of $1.0847.

The dollar was trading against the Indian rupee at Rs 63.86, the greenback was at 3.8750 in terms of the Malaysian ringgit and the US currency was at 6.2097 versus the Chinese yuan.

Bangladesh inter bank forex, interest rates August 5 (Reuters)-Inter bank buy/sell rates for the taka against the dollar on Wednesday. 77.80-77.80 (previous 77.80-77.80): Call Money Rates: 05.30-6.50 percent (Previous 05.30-06.50 percent).

In the fourth Asian trade, the dollar inched lower against a basket of currencies while staying near a more than three-month high, after US data provided more evidence that the US Federal Reserve could hike interest rates as early as next month.

The dollar index, which tracks the greenback against a basket of six major rivals, was down about 0.2 percent on the day at 97.799, but remained in sight of the previous session’s high of 98.218, its strongest level since April 23.

The dollar was trading against the Indian rupee at Rs 63.77, the greenback was at 3.8920 versus the Malaysian ringgit and the US currency was available at 6.209 in relation to the Chinese yuan.

Inter bank buy/sell rates for the taka against the dollar on Thursday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 05.25-6.50 percent (Previous 05.25-06.50 percent).

In the final Asian trade, the dollar steadied against the euro and yen after a week of gains as the market braced for US non-farm payrolls data that could spur the Federal Reserve to raise interest rates in September.

The euro treaded water at $1.0915 after edging further away from a two-week trough of $1.0847 plumbed mid-week. The common currency has lost 0.6 percent versus the dollar this week.

The dollar was trading against the Indian rupee at Rs 63.77, the greenback was available at 3.9140 versus the Malaysian ringgit and the US currency was at 6.209 in terms of the Chinese yuan.

At the week-end, the dollar dropped from a near four-month high against a currency basket, as investors pared back bullish bets on the greenback following a solid US jobs report.

The dollar also had earlier risen to a two-month peak versus the yen and a near five-month high against the Swiss franc. By midday trading, however, the US currency gave up those gains as well, in line with the drop in long bond yields.

Recorder Report

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