As a result of increase in dollar’s demand, rates of the rupee fell modestly on the money market on Thursday, dealers said. The rupee dropped by eight-paisa against the dollar for buying and selling at Rs 101.63 and Rs 101.65 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: In sympathy with the open market track, the rupee also slipped and lost 10-paisa against the dollar for buying and selling at Rs 102.50 and Rs 102.70 respectively, they said.
The rupee adopted the same patterns versus the euro, losing 35-paisa for buying and selling at Rs 110.10 and Rs 110.35 respectively, they said.
In the fourth Asian trade, the US dollar held firm after strong US housing data helped to lift US bond yields while the New Zealand dollar fell more than one percent following dovish central bank comments. The dollar’s index against a basket of six major currencies gained 0.3 percent to 98.270, extending its recovery into the fourth day. The dollar has been a currency of choice for many investors so far this year as the US Federal Reserve is expected to raise interest rates in coming months, enhancing the yield attraction of the dollar.
The dollar was trading against the Indian rupee at Rs 63.05, the US currency was at 3.6185 versus the Malaysian ringgit and the greenback was at 6.1970 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: 06.80-8.00 percent (Previous 06.80-08.00 percent).
Open Bid Rs.102.50
Open Offer Rs.102.70
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
Bid Rate Rs.101.63
Offer Rate Rs.101.65
RUPEE IN LAHORE: The rupee has fallen by losing five-paisa against the US dollar and the dollar resumed trading at its overnight closing of Rs 102.50 and Rs 102.75 as its buying and selling rate.
Following a slight increase in the dollar’s demand, its rate moved up to Rs 102.55 and Rs 102.80 on buying and selling side while the rupee fell for another day and depreciated against the pound sterling that was purchased and sold at Rs 153.00 and Rs 153.25 compared with Wednesday closing of Rs 152.75 and Rs 153.00.
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).