The rupee extended its overnight gains against the dollar on the currency market on Thursday in the process of trading, dealers said. Some money experts realised that “the dollar is travelling in the negative territory for the last two weeks, but despite this situation a great interest for purchasing of dollar can be seen due to its attractive rates.
It is anticipated that dollar’s easy supply may help the rupee to touch Rs 95 in days to come, but how we could suppose that the dollar would lose sharply in the near future, they said.
INTERBANK MARKET RATES: The rupee inched up by two-paisa in relation to the dollar for buying at Rs 98.18 and the domestic currency gained three-paisa for selling at Rs 98.22, they said.
OPEN MARKET RATES: The rupee followed suit, picking up 30-paisa against the dollar for buying and selling at Rs 100.20 and Rs 100.40. It recovered 75-paisa versus the euro for buying and selling at Rs 138.60 and Rs 139.00, they said.
In the fourth Asian trade, the dollar traded near two-week highs against a basket of major currencies, after comments from Federal Reserve head Janet Yellen prompted investors to bring forward their US interest rate hike expectations.
Yellen said the Federal Reserve will probably end its massive bond-buying program this coming fall, and could start to raise interest rates around six months later, which was sooner than many market participants had anticipated.
The dollar was travelling against the Indian rupee at Rs 61.08, the greenback was at 3.2775 versus the Malaysian ringgit and the US currency was trading at 6.2250 in terms of the Chinese yuan. Interbank buy-sell rates for the taka against the dollar on Thursday: 77.68-77.68 (77.68-77.70). Call Money Rates: 06.25-08.00 percent (previous 05.35-08.25 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
RUPEE IN LAHORE: The national currency showed stability and stayed unchanged amid low trading activity against the US dollar and the British pound on the local currency market on Thursday.
According to the currency dealers, the dollar resumed trading at its overnight closing of Rs 100.50 and Rs 101.50 as its buying and selling rates, respectively. The dollar witnessed no change in its rates and was closed at the opening level, the dealers said.
Similarly, the rupee remained unchanged against the pound sterling. It was traded at Wednesday closing of Rs 167.00 and Rs 168.50 on buying and selling counters respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 100 for buying and Rs 100.10 for selling against same last rate. It did not observe further change in the second session and closed at Rs 100 for buying and Rs 100.10 for selling.
Pound Sterling opened at Rs 165 for buying and Rs 165.50 for selling against same last rate. It closed at the same rate without further change by the end of evening session.