Divergent trend was again witnessed on the currency market on Thursday as the rupee played both sides versus the dollar in the process of trading, dealers said. The rupee continued overnight slide in terms of the dollar, losing six paisa for buying and selling at Rs 98.78 and Rs 98.80, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee, however, rose by 15 paisa in relation to the dollar for buying and selling at Rs 99.30 and Rs 99.80, they said. The rupee also appreciated by 45 paisa against the euro for buying and selling at Rs 134.10 and Rs 134.35, they said.
In the fourth Asian trade, the dollar languished near one-month lows against a basket of major currencies on Thursday, following a surprise downward revision to US first quarter economic growth. The dollar index fell as far as 80.091 on Wednesday, a low not seen since May 22, as investors reacted negatively to data that showed the US gross domestic product contracted at a 2.9 percent annualised pace, the sharpest decline in five years.
The dollar was trading against the Indian rupee at Rs 60.15, the greenback was at 3.2160 in terms of the Malaysian ringgit and the US Currency was available at 6.2292 versus the rupee. Inter bank buy/sell rates for the taka against the dollar on Thursday. 77.63-77.63 (previous 77.63-77.63). Call Money Rates: 05.60-07.00 percent (previous 05.25-07.00 percent).
======================== Open Bid Rs.99.30 Open Offer Rs.99.50 ========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
======================== Bid Rate Rs.98.78 Offer Rate Rs.98.80 ========================
RUPEE IN LAHORE: The Pak rupee gained in relation to the US currency on the open currency markets of Lahore on Thursday.
The dollar resumed trading at Rs 99.40 and 99.70 on buying and selling counters, respectively, as against Rs 99.35 and Rs 99.60 of Wednesday. At the close, the greenback depreciated its worth by 25-paisa and it was closed Rs 99.90 and Rs 99.85 on buying and selling counters, respectively.
On the other hand, the British pound improved its worth by 25-paisa against the local currency. Pound Sterling was purchased and sold at Rs 168.60 and Rs 168.85 as against Rs 168.00 and Rs 168.60 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 (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.