Strong demand pushed the dollar higher on the interbank market on Thursday in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee dropped 25-paisa in terms of the dollar for buying and selling at Rs 102.05 and Rs 102.10 respectively, they said.
OPEN MARKET RATES: The rupee, however, rose by 10-paisa in relation to the dollar for buying and selling at Rs 102.40 and Rs 102.60 respectively. It continued its decline versus the euro, losing 75-paisa for buying and selling at Rs 109.25 and Rs 109.50 respectively, they said.
In the fourth Asian trade, the dollar nursed hefty losses, having suffered its biggest one-day fall against the euro in six years after the Federal Reserve struck a much more dovish than expected tone on interest rates while highlighting the currency’s drag on US exports.
As expected, the Fed dropped the word “patient” from its statement in terms of raising interest rates, but it also downgraded its views on the economy and inflation and lowered its interest rate trajectory. That signalled a far more gradual path to policy normalisation than many investors had expected.
The dollar was available against the Indian rupee at Rs 62.69, the US currency was at 3.6700 in terms of the Malaysian ringgit and greenback was at 6.2135 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Thursday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 07.25-8.00 percent (Previous 07.00-08.00 percent).
Open Bid Rs 102.40
Open Offer Rs 102.60
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
Bid Rate Rs 102.05
Offer Rate Rs 102.10
RUPEE IN LAHORE: The rupee failed to maintain its rise and lost 30 paisas against the US dollar on the local currency market on Thursday.
Currency dealers said the dollar commenced trading on positive note and registered gain following fresh buying. At close, the dollar was ended higher at Rs 102.65 and Rs 102.90 as its buying and selling rate against Rs 102.35 and Rs 102.60 of Wednesday, respectively. The rupee remained under pressure and registered a decline against the British pound. The pound was purchased and sold at Rs 151.00 and Rs 151.25 compared with the day earlier closing of Rs 149.75 and Rs 150.00, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 101.75 (buying) and Rs 101.85 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 101.75 (buying) and Rs 101.85 (selling).
Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 155 (buying) and Rs 155.50 (selling).