An easier trend persisted on the money market on Thursday as the rupee continued its gradual fall in relation to the dollar in the process of trading, dealers said. The rupee slipped with a slide of two-paisa against the dollar for buying and selling at Rs 101.88 and Rs 101.90 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also shed five-paisa in terms of the dollar for buying and selling at Rs 101.95 and Rs 102.15 respectively, but it maintained its overnight levels versus the euro for buying and selling at Rs 115.50 and Rs 115.75 respectively, they said.
In the fourth Asian trade, the dollar nursed modest losses on Thursday, having eased for a second straight session after recent remarks from the head of the Federal Reserve prompted markets to push back the timing of an expected US interest rate hike.
The euro edged up to $1.1364, up from this week’s trough of $1.1288, but remained stuck in a $1.12-$1.15 range held since hitting an 11-year trough of $1.1098 a month ago. Against the yen, the greenback slipped to 118.925 yen, off this week’s high of 119.84. Yet, it too has been struggling for direction since peaking at a 7-1/2-year high of 121.86 yen in early December.
The dollar was trading against the Indian rupee at Rs 61.97, the US currency was available at 3.5970 versus the Malaysain ringgit and the greenback was at 6.2596 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 06.75-8.75 percent (Previous 06.75-08.75 percent)
Open Bid Rs 101.95
Open Offer Rs 102.15
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
Bid Rate Rs 101.88
Offer Rate Rs 101.90
RUPEE IN LAHORE: The Pak rupee remained under pressure and was further declined by five-paisa in relation to the greenback on the local currency market on Thursday.
According to the currency dealers, the dollar resumed trading at its overnight closing of Rs 101.90 and Rs 102.15 as its buying and selling rate, respectively. As a result of continued demand, the dollar was marginally improved to Rs 101.95 and Rs 102.20 on buying and selling rate, respectively, the dealers said.
Likewise, the rupee maintained downward slide and was further depreciated against the British pound. The pound was purchased and sold at Rs 157.25 and Rs 158.00 compared with Wednesday closing of Rs 157.25 and Rs 157.50, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained strength against the dollar on the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 100.75 (buying) and Rs 101 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 100.75 (buying) and Rs 101 (selling).
Pound Sterling opened at Rs 152 (buying) and Rs 153 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 152 (buying) and Rs 153 (selling).