THE RUPEE: all-round falls

The rupee drifted lower against the dollar and euro on the money market on Thursday amid post-holiday session, dealers said. The demand was high for dollars as market reopened after observing three-day holidays on account of Eid-ul-Azha, they said.

INTERBANK MARKET RATES: The rupee depreciated by 30-paisa in relation to the dollar for buying and selling at Rs 102.82 and Rs 102.84 respectively, they said.

OPEN MARKET RATES: The rupee followed the same pattern, losing 40-paisa versus the dollar for buying and selling at Rs 102.40 and Rs 102.60 respectively. It also fell sharply in relation to the euro, losing Rs 2.10 for buying and selling at Rs 130.10 and Rs 130.35 respectively, they said.

In the forth Asian session, the dollar hit a two-week low versus a basket of currencies, after minutes from the US Federal Reserve’s last meeting prompted markets to push out expectations for the likely timing of an interest rate rise.

The dollar index fell 0.1 percent to 85.174. It slipped to 85.143 at one point, its lowest level since late September, pulling away from a four-year peak of 86.746 hit on Friday.

The dollar was trading against the Indian rupee at Rs 61.08, the greenback was at 3.2360 versus the Malaysian ringgit and the US currency was available at 6.1323 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday. 77.40-77.40 (previous 77.40-77.40): Call Money Rates: 07.75-09.50 percent (Previous 07.75-09.50 percent).

Open Bid       Rs.102.40
Open Offer     Rs.102.60

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

Bid Rate       Rs.102.82
Offer Rate     Rs.102.84

RUPEE IN LAHORE: The Pak rupee staged recovery and gained 10-paisa in relation to the greenback on the local currency market on Thursday.

According to the currency dealers, the dollar was opened on a depressed note and could not sustain due to lacking buyers’ interest. At close of trading, the dollar was ended lower at Rs 102.25 and Rs 102.50 as its buying and selling rate against Rs 102.35 and Rs 102.60 of last Saturday, the dealers said.

Similarly, the rupee showed strength and was appreciated against the pound sterling. The pound was traded at Rs 164.40 and Rs 164.65 on buying and selling counter compared with previous closing of Rs 164.50 and Rs 164.75, 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 101 (buying) and Rs 101.10 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101 (buying) and Rs 101.10 (selling). Pound Sterling opened at Rs 168 (buying) and Rs 168.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 168 (buying) and Rs 168.10 (selling).

Recorder Report