The rupee failed to sustain its overnight gains against the dollar due to strong demand for the greenback, dealers said on the money market on Thursday. The rupee slid in relation to the dollar, falling 10-paisa for buying at Rs 102.75 and it also depreciated by 12-paisa for selling at Rs 102.80, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee dropped by 15-paisa in terms of the greenback for buying and selling at Rs 102.45 and Rs 102.65 respectively; however, it lost 75-paisa versus the euro for buying and selling at Rs 131.75 and Rs 132.00, they said.
In the fourth Asian trade, the dollar hit a six-year high against the yen on Thursday after the Federal Reserve’s guidance on interest rates highlighted the diverging pathways between the United States and other rich nations. The greenback raced to a high of 108.69 yen, its strongest level since September 2008. The dollar last traded at 108.58 yen, up 0.2 percent on the day.
The dollar was trading against the Indian rupee at Rs 61.11, the greenback was at 3.2410 in terms of the Malaysian ringgit and the US currency was available at 6.1443 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 77.40-77.40 (previous 77.40-77.40). Call Money Rates: 06.50-08.25 percent (Previous 06.25-08.25 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
RUPEE IN LAHORE: The Pak rupee remained strong and appreciated its worth by 10-paisa in relation to the greenback on the local currency market on Thursday.
According to the currency dealers, the dollar commenced trading on a depressed note and could not sustain in the absence of buyers’ interest. At close of trading, the dollar was ended lower at Rs 102.55 and Rs 102.80 as its buying and selling rate against Rs 102.65 and Rs 102.90 of Wednesday, respectively, the dealers said.
On the contrary, the rupee failed to maintain upward slide and was declined against the British pound. The pound’s buying and selling rates were improved from the overnight closing of Rs 166.00 and Rs 166.25 to Rs 166.25 and Rs 166.50, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 101 (buying) and Rs 101.10 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101 (buying) and Rs 101.10 (selling) against.
Pound Sterling opened at Rs 168 (buying) and Rs 168.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 168 (buying) and Rs 168.10 (selling).