WEB DESK: On the back of strong demand, the dollar posted fresh gains against the rupee on the money market on Monday in the process of trading, dealers said. The rupee, which was travelling in a safe-haven, now started losing its value versus the dollar, experts said.
INTER-BANK MARKET RATES: The local currency lost 19-paisa for buying and selling at Rs 104.92 and Rs 104.94 respectively, they said.
OPEN MARKET RATES: The rupee followed the suit shedding 10-paisa in terms of the dollar for buying at 106.20 and it also dropped by 15-paisa for selling at Rs 106.50, they added. While, the rupee rose by 30-paisa in relation to the euro for buying and selling at Rs 115.20 and Rs 116.20 respectively, they added.
In the first Asian trade, the dollar drifted lower in light Asian trading amid doubts about how far and fast the Federal Reserve would raise US interest rates next year.
The dollar eased to 121.20 yen and further away from Friday’s brief peak of 123.59. The euro edged up to $0.0867 and the dollar was a shade weaker against a basket of major currencies at 98.680. The yen held gains made after Friday’s decision by the Bank of Japan to merely tweak its stimulus campaign rather than outright expand the amount of assets it buys.
The dollar was trading against the Indian rupee at Rs 66.31, the greenback was at 4.3000 in terms of the Malaysian ringgit and the US currency was at 6.4807 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 78.65-78.68 (previous 78.70-78.70).
Source: Business Recorder