THE RUPEE: decline persists

Erosion persisted on the local currency market on Thursday as the rupee continued slide versus the dollar in the process of trading, dealers said. The rupee sustained its overnight level for buying at Rs 98.85 while it inched down by three paisa for selling at Rs 98.90, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee traded in a negative territory in relation to the dollar, falling 15 paisa for buying and selling at Rs 99.65 and Rs 99.85 respectively, however it gained 25 in terms of the euro for buying and selling at Rs 136.00 and Rs 136.25 respectively, they said.

In the fourth Asian trade, the he yen eased versus the dollar on Thursday and edged away from a 3-1/2-month high, as a survey showing an improvement in Chinese factory activity helped bolster risk appetite and dampened demand for the safe haven currency.

The dollar rose 0.3 percent to 101.63 yen, well off a 3-1/2-month low near 100.80 yen plumbed on Wednesday. The euro edged up 0.2 percent to 138.95 yen, up from a 3-1/2- month trough of 138.15 yen also set on Wednesday. The dollar was trading against the Indian rupee at Rs 58.60, the greenback was at 3.2065 in terms of the Malaysian ringgit and the US currency was at 6.2341 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 77.63-77.63 (77.63-77.63). Call Money Rates: 05.75-07.25 percent (previous 05.75-07.25 percent).

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

RUPEE IN LAHORE: The Pak national currencies maintained downward trend and was further declined against the major currencies including US dollar and the British pound on the local currency market on Thursday.

According to the currency dealers, the dollar was opened on a healthy note and kept on moving up following fresh buying. At close of trading, the dollar was ended higher at Rs 99.70 and Rs 99.95 as its buying and selling rate against Rs 99.40 and Rs 99.65 of Wednesday, respectively, the dealers said.

Similarly, the rupee remained under pressure and depreciated its worth against the pound sterling. The pound’s buying and selling rates were improved from overnight closing of Rs 167.25 and Rs 167.50 to Rs 167.75 and Rs 168.00, respectively, they 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 (buying) and Rs 98.60 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 98.50 (buying) and Rs 98.60 (selling).

Pound Sterling opened at Rs 165 (buying) and Rs 165.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.

Recorder Report