All - Round Decline In Currency
Wednesday, September 15, 2010
All-round decline was seen on the currency market on Tuesday as a result of higher demand for the US dollars, dealers said. All the markets reopened after a 4-day closure, including banks, so the rupee was able to retain its outgoing week level versus dollar and euro, losing modestly in both interbank and open market, analysts said.
INTERBANK MARKET RATES: The rupee shed five paisa in terms of the greenback for buying and selling at 85.75 and 85.80, they said. In the first Asian trade euro surged as positive market sentiment following upbeat Chinese data and a lack of surprises from new banking rules tripped automatic buy orders and sent it 1 percent higher against dollar. The yuan closed up after hitting a post-revaluation high against dollar, with the United States stepping up pressure on China to let the yuan rise as Treasury Secretary Timothy Geithner said he was not satisfied with the progress of yuan reform. Indian rupee was trading at Rs 46.47 and Malaysian ringgit was available at 3.1000 in terms of the US currency.
In the second Asian trade euro surged as positive market sentiment following upbeat Chinese data and a lack of surprises from new banking rules tripped automatic buy orders and sent it 1 percent higher against the dollar. The upbeat economic numbers out of China also propelled the Australian dollar to its highest in four months against the greenback as share markets around Asia rose on positive risk sentiment and the low-yielding yen retreated.
Interbank buy/sell rates for taka against dollar on Tuesday:. 69.5825/69.6000 (previous 69.58/69.59) Call Money Rates: 4.50-9.50 percent (previous 4.50-9.50 percent).
Labels: Currency Rates, Rupee
posted @ 8:09 PM,
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