Little movements were seen on the open market on Thursday as the rupee traded in a narrow band in relation to the dollar, dealers said. The rupee moved cautiously in terms of the dollar, gaining one-paisa in relation to the dollar for buying and selling at Rs 105.42 and Rs 105.44, dealers said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee after maintaining a stable trend versus the dollar during the week, appreciated by 10-paisa for buying and selling at Rs 106.10 and Rs 106.30, respectively. It also managed to appreciate in terms of the euro, picking up 40-paisa for buying and selling at Rs 144.25 and Rs 144.50, they said.
In the fourth Asian trade, Canadian dollar slid to 4 1/2-year lows after the Bank of Canada said the currency’s depreciation should help exports, while the Australian dollar weakened following a disappointing survey of Chinese manufacturers.
In contrast, sterling took off after a surprisingly big fall in the UK jobless rate prompted investors to price in an earlier start to rate hikes in Britain. The dollar was at Rs 61.99 against the Indian rupee, the US currency was at 3.3305 against the Malaysian ringgit and the greenback was at 6.0525 in relation to the Chinese yuan.
Open Bid Rs 105.42
Open Offer Rs 105.44
INTERBANK CLOSING RATES: Interbank Closing Rates For Dollar on Thursday.
Bid Rate Rs 106.10
Offer Rate Rs 106.30
RUPEE IN LAHORE: The Pak rupee showed strength and appreciated its worth against the greenback on the local currency market on Thursday.
According to the currency dealers, the dollar resumed on a depressed note and remained under pressure in the absence of buyers’ interest. At close, the dollar was ended lower at Rs 106.45 and Rs 106.65 as its buying and selling rates against Rs 106.80 and Rs 107.80 of Wednesday, respectively.
However, the rupee maintained downward slide and was declined against the British pound. The pound’s buying and selling rates were improved from the overnight closing of Rs 176.20 and Rs 177.00 to Rs 176.50 and Rs 177.25 respectively, the dealers said.
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 106 for buying and Rs 106.25 for selling against last rate. It did not observe further change in the second session and closed at Rs 106 for buying and Rs 106.25 for selling.
Pound Sterling opened at Rs 173 for buying and Rs 173.50 for selling against same last rate. It closed at the same rate without further change by the end of evening session.