Little movement was seen on the money market on Thursday as the rupee traded in a narrow range in terms of the dollar, dealers said. The rupee shed one-paisa in relation to the dollar for buying and selling at Rs 98.64 and Rs 98.66 respectively, dealers said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee managed to hold the rising trend against the dollar, picking up 10-paisa for buying at Rs 99.15 and five-paisa for selling at Rs 99.35, dealers said. It also gained Rs 75 in terms of the euro for buying and selling at Rs 135.00 and Rs 135.25 respectively, they said.
In the fourth Asian trade, the Indian rupee and South Korean won rose, when most Southeast Asian currencies eased on profit-taking, but the gains were pared as foreign exchange authorities in the two countries were seen intervening. The rupee advanced as much as 0.4 percent to 59.45, its strongest since July, one day before results for India’s election was due.
The dollar was trading against the Indian rupee at Rs 59.32, the US currency was at 3.2215 in terms of the Malaysian ringgit and the greenback was at 6.228 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 77.64-77.65 (77.6425-77.6500). Call Money Rates: 05.50-07.25 percent (previous 05.50-07.25 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
RUPEE IN LAHORE: The Pak rupee remained firm in relation to foreign currencies at the open currency markets of Lahore on Thursday.
The dollar resumed trading at Rs 99.25 (buying) and Rs 99.55 (selling) against Rs 99.40 and Rs 99.65 of Wednesday. In the absence of any visible buying activity, the greenback depreciated its worth in relation to the local currency and closed at Rs 99.20 and Rs 99.50 on buying and selling counters, respectively.
Likewise, the British pound further lost its worth against the local currency. Pound Sterling was purchased and sold at Rs 165.80 and Rs 166.80 as against Rs 167.00 and Rs 167.25 on Wednesday.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at 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.