THE RUPEE: firm trend

Steadier trend was seen on the money market on Thursday as the rupee managed to retain the overnight levels against the dollar, dealers said. The rupee picked up five paisa in terms of the dollar for buying and selling at Rs 98.00 and Rs 98.05, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also gained the same amount against the dollar for buying and selling at Rs 99.45 and Rs 99.70, the said. The rupee, however, also shed five paisa versus the euro for buying and selling at Rs 136.80 and Rs 137.05, they said. In the fourth Asian trade, the greenback was last at 102.48, having drifted either side of 102.50. The euro fetched 141.61 yen and appeared reluctant to stray too far from 141.70. Against the yen, both the dollar and euro have been confined in slim ranges this week.

The New Zealand dollar rallied on Thursday after the country’s central bank lifted interest rates and signalled more hikes ahead, while caution ahead of a speech by the European Central Bank kept the euro subdued. The dollar was trading against the Indian rupee at Rs 61.07, the greenback was at 3.2630 versus the Malaysian ringgit and the US currency was available in terms of the Chinese yuan at 6.2430. Interbank buy/sell rates for the taka against the dollar on Thursday. 77.65-77.65 (77.6500-77.6525). Call Money Rates: 07.00-08.25 percent (previous 05.75-08.25 percent).

Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.

RUPEE IN LAHORE: The Pak rupee staged recovery and gained 10-paisa against the greenback on the local currency markets on Thursday.

According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 99.50 and Rs 100.00 as its buying and selling rates, respectively. In the absence of buyers’ interest, the dollar’s rate was declined to Rs 99.40 and Rs 99.90 on buying and selling counters, respectively, the dealer said.

Similarly, the local currency recovered some of its earlier loss and was improved against the pound sterling. The British pound’s buying and selling rates were declined from overnight closing of Rs 167.00 and Rs 167.25 to Rs 166.25 and Rs 166.50, respectively, the dealers added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Thursday.

The dollar opened at Rs 98.50 for buying and Rs 98.60 for selling against same last rate. It did not observe further change in the second session and closed at Rs 98.50 for buying and Rs 98.60 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.

Recorder Report