An all-round appreciation was witnessed on the money market as the rupee firmly moved up versus the dollar and euro in the process of trading on Thursday, dealers said. The rupee posted fresh gains of 11-paisa against the dollar for buying Rs 98.47 and it also picked up 10-paisa for selling at Rs 98.50, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also rose by five-paisa in terms of the dollar for buying and selling at Rs 99.55 and Rs 99.75 respectively. The local currency followed same pattern in relation to the euro, picking up 45 paisa for buying and selling at Rs 134.30 and Rs 134.55 respectively, they said.
In the fourth Asian trade, the euro hovered near a four-month low versus the dollar, hobbled by a widening yield gap between euro zone bonds and their major peers, while the New Zealand dollar rose after the central bank retained its hawkish bias. The euro last traded at $1.3544, up 0.1 percent on the day but not far from a four-month low of $1.3503 set last Thursday when the European Central Bank cut interest rates to record lows and took its deposit rate negative for the first time.
The dollar was trading against the Indian rupee at Rs 59.32, the US currency was at 3.2125 in terms of the Malaysian ringgit and the greenback was available at 6.2207 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 77.63-77.63 (previous 77.63-77.63). Call Money Rates: 05.50-07.00 percent (previous 05.25-07.25 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
RUPEE IN LAHORE: The national currency maintained upward trend, as it gained strength against the major currencies including US dollar and British pound on the local currency market on Thursday.
According to the currency dealers, the dollar resumed trading at its overnight closing Rs 99.65 and Rs 99.90 as its buying and selling rate, respectively. In the absence of lacking demand, the dollar was further declined to Rs 99.60 and Rs 99.85 on buying and selling counter, respectively, the dealers said.
Likewise, the rupee registered marginal gain of five-paisa in relation to the pound sterling that was traded at Rs 166.70 and Rs 166.95 on buying and selling side compared with Wednesday closing of Rs 166.75 and Rs 167.00, 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.