The rupee moved cautiously against the dollar on the local currency market on Thursday in the process of trading, dealers said. The rupee fell by 10-paisa in relation to the dollar for buying and selling at Rs 102.60 and Rs 102.80 respectively. It also fell sharply in terms of the euro losing Rs 1.65 for buying and selling at Rs 116.65 and Rs 116.90 respectively, they added.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee almost held the overnight levels against the dollar for buying and selling at Rs 101.82 and Rs 101.84 respectively, they said.
In the fourth Asian trade, the dollar languished near a three-month low against a basket of major currencies after surprisingly soft retail sales prompted some investors to wonder if the Federal Reserve can afford to hike interest rates at all this year. The dollar index eased 0.1 percent to 93.540, having fallen to 93.461 on Wednesday, its lowest level since early February. It has now shed nearly 7 percent from a 12-year peak of 100.390 set in March.
The dollar’s latest setback came after data showed that a key measure of US retail sales was flat in April, confounding forecasts for a 0.5 percent increase and adding to other disappointing data that could see analysts downgrade their US growth forecasts for the rest of the year.
The dollar was available versus the Indian rupee at Rs 63.88, the greenback was at 3.5755 in terms of the Malaysian ringgit and the US currency was at 6.2017 against 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: 05.50-7.50 percent (Previous 05.30-07.50 percent).
Open Bid Rs.102.60
Open Offer Rs.102.80
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
Bid Rate Rs.101.82
Offer Rate Rs.101.84
RUPEE IN LAHORE: The rupee remained under pressure and lost 15-paisa in relation to the greenback on the local currency market on Thursday.
The dollar resumed trading well and kept moving up because of fresh demand and at close ended further higher at Rs 102.70 and Rs 102.95 as its buying and selling rate against Rs 102.55 and Rs 102.80 of Wednesday. The rupee failed to maintain its rising trend and moved down against the British pound whose buying and selling rates improved from the overnight closing of Rs 159.50 and Rs 159.75 to Rs 160.50 and Rs 160.75.
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).