Dealers said the dollar shot up further to its another record high at 58.90 taka in late inter-bank trade from its earlier high at 58.72 taka on Tuesday and 58.60 taka on Monday as importers become mad to buy dollars fearing dollar crises next week due to a series of holidays from today.

The dollar hit its lowest level at 58.46 taka and in most deals it traded between 58.60 taka and 58.72 taka compared to its earlier range between 58.5050 taka and 58.6550 taka on Tuesday, dealers of leading commercial banks said.

"We experienced robust demand for the US currency today even though the dollar soften further against major currencies in international markets. The main reason was mad-buying by some importers who are under serious pressure to pay their bills immediately" dealer of a leading commercial bank said.

"As most international markets will remain closed for some days from tomorrow some dealers today thronged to the market and bought dollar fearing possible dollar crises next week," he said.

But the dollar held within half a cent of a record low against the euro today ahead of US economic data. The euro was around 0.2 per cent up on the day at $1.2410, less than half a cent below Monday's record peak around $1.2447, dealers said.

They said the dollar was holding within half a yen of a three-year low around 106.75 yen set earlier in the month.

The Australian dollar was the only real mover, up 0.4 per cent at US$0.7395 and rebounding versus the yen and the Swiss franc on the back of its yield advantage and hopes that Australian beef exports will benefit from bans on US beef.

Sterling, which hit 11-year highs against the dollar last week, was steady against the dollar and euro. UK markets close early on Wednesday and are shut until Monday.

Many traders were concerned about the possibility of attacks on US soil over the holidays after Washington raised its terror alert to the second-highest level at the weekend, dealers said.