Steadier trend was witnessed on the local currency market at the rupee traded in a narrow band versus the dollar during the week, ended on 25 2014. In the interbank market, the rupee did not move sharply versus the dollar for buying and selling at Rs 105.46 and Rs 105.48. In the open market, the national currency gained 20 paisa in terms of the dollar for buying at Rs 106.00 and it also rose by 30 paisa for selling at Rs 106.10, the rupee, however, lost Rs 1.10 in relation to the euro for buying and selling at Rs 145.60 and Rs 145.85.

Some experts said that rupee is likely to move cautiously versus the dollar in the near future. They said that the rupee may fall slightly as the reports appeared that the country will pay nearly two billion dollars during the current year.

There were rising perceptions that the rupee may recover most of ground but imports were increasing and exports were not picking up as was predicted, they added. It looks that the country is so much relying on imports as if the government starts importing electricity how it would be able to make huge payments? The country is already paying huge amount in high import bills.

INTER-BANK MARKET RATES: On Monday, the rupee slipped by seven paisa in relation to the dollar for buying at Rs 105.45 and the national currency was down by six paisa for selling and Rs 105.48.

On Tuesday, the rupee lost further eight paisa in relation to the dollar for buying and selling at Rs 105.53 and Rs 105.55. On Wednesday, the rupee rose by 10 paisa in relation to the dollar for buying and selling at Rs 105.43 and Rs 105.45. On Thursday, the rupee moved cautiously in terms of the dollar, gaining one paisa in relation to the dollar for buying and selling at Rs 105.42 and Rs 105.44. On Friday, the rupee shed four paisa versus the dollar for buying and selling at Rs 105.46 and Rs 105.48.

OPEN MARKET RATES: On Jan 20, the rupee maintained its week-end levels against the dollar for buying and selling at Rs 106.20 and Rs 106.40. The rupee also did not show any change in terms of the euro for buying and selling at Rs 144.50 and Rs 144.75. On Jan 21, the rupee did not move any side against the dollar for buying and selling at Rs 106.20 and Rs 106.40. The rupee depreciated by 15 paisa in terms of the euro for buying and selling at Rs 144.65 and Rs 144.85.

On Jan 22, the rupee traded in the negative territory against the dollar during the day, but it somehow, managed to close at the overnight levels for buying and selling at Rs 106.20 and Rs 106.40. The rupee depreciated by 15 paisa in terms of the euro for buying and selling at Rs 144.65 and Rs 144.85.

On Jan 23, the rupee appreciated by 10 paisa for buying and selling at Rs 106.10 and Rs 106.30. The rupee also managed to appreciate in terms of the euro, picking up 40 paisa for buying and selling at Rs 144.25 and Rs 144.50.

On Jan 24, the rupee held the overnight level against the dollar for buying at Rs 106.10 while the national currency was lower by 10 paisa for selling at Rs 106.20. The rupee fell sharply by Rs 1.35 in terms of the euro for buying and selling at Rs 144.25 and Rs 144.50.

OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the US dollar set a two-month high versus the euro, having enjoyed a solid comeback last week after a string of mostly upbeat data convinced markets the Federal Reserve will continue its gradual withdrawal of stimulus.

The beleaguered Australian dollar got a bit of relief after China's annual economic growth in the October-December quarter of 2013 came in at 7.7 percent, down from 7.8 percent in the previous three months but slightly ahead of market expectations for growth of 7.6 percent.

The dollar was trading against the Indian rupee at Rs 61.63, the greenback was at Rs 3.3120 in terms of the Malaysian ringgit and the US currency was at 6.0524 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday. 77.7500-77.7525 (77.7500-77.7500).

Call Money Rates: 06.25-08.00 percent (previous 06.25-08.10 percent).

In the second Asian year, the dollar rose versus the yen, helped by renewed talk that the US Federal Reserve may announce a further reduction of its bond-buying stimulus next week, while the New Zealand dollar surged after a surprise pick-up in inflation.

The US dollar advanced 0.5 percent to 104.65 yen, bringing it closer to possible resistance near 104.92 yen, an intraday high hit on Jan. 16.

The dollar was trading against the Indian rupee at Rs 61.47, the greenback was at 3.3155 in relation to the Malaysian ringgit and the US currency was at 6.0496. Inter bank buy/sell rates for the taka against the dollar on Tuesday. 77.7500-77.7500 (77.7500-77.7525).

Call Money Rates: 06.50-08.00 percent (previous 05.50-08.10 percent).

In the third Asian trade, the Australian dollar stole the spotlight on Wednesday, rallying against the greenback after an unexpected spike in inflation led investors to scale back bets on another interest rate cut. The yen, meanwhile, briefly blipped to its session high after the Bank of Japan kept monetary policy steady as most market participants had expected, though disappointed those hoping for additional easing measures sooner rather than later ahead of a scheduled sales tax hike in April.

The dollar was trading against the Indian rupee at Rs 61.91, the greenback was available at 3.3265 in term of the Malaysian ringgit and the US currency was at 6.0503 versus the Chinese yuan.

In the fourth Asian trade, Canadian dollar slid to 4 1/2-year lows after the Bank of Canada said the currency's depreciation should help exports, while the Australian dollar weakened following a disappointing survey of Chinese manufacturers.

In contrast, sterling took off after a surprisingly big fall in the UK jobless rate prompted investors to price in an earlier start to rate hikes in Britain.

The dollar was at Rs 61.99 against the Indian rupee, the US currency was at 3.3305 against the Malaysian ringgit and the greenback was at 6.0525 in relation to the Chinese yuan.

In the final Asian trade, the yen and Swiss franc held firm, having charged higher overnight as worries about a slowdown in China and turmoil in some emerging markets spurred demand for the safe-haven currencies.

The euro also held onto the previous day's hefty gains, which stemmed from data that showed a strong euro zone recovery and fuelled a shift of funds into the common currency from emerging markets.

The dollar was trading against the Indian rupee at Rs 62.15, the greenback was at 3.3305 in terms of the Malaysian ringgit and the US currency was at 6.0473 in relation to the Chinese yuan.

At the week-end, emerging market currencies were battered on Friday as global investors scrambled for shelter from a broad financial markets sell-off by buying dollars, yen and Swiss francs.

The Japanese yen surged to a seven-week high against the dollar, while the Swiss franc touched a four-week peak against the euro as US stocks tumbled and safe-haven Treasuries gained.