THE RUPEE: firm trend

The rupee, somehow, managed to resist fall against the dollar on the currency market on Thursday, dealers said. The rupee almost held the overnight levels in terms of the dollar for buying and selling at Rs 102.89 and Rs 102.90 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee recovered 10-paisa versus the dollar for buying and selling at Rs 102.70 and Rs 102.90, while it fell sharply against the euro, losing rupee one for buying and selling at Rs 130.50 and Rs 130.75 respectively, they said.

In the fourth Asian trade, the dollar was sharply lower, its appeal deeply dented after poor US data added to growth concerns that sent equities tumbling and Treasury yields plunging. Already on shaky ground after being buffeted by growth concerns over the past few sessions, a string of downbeat economic data including weak retail sales and manufacturing activity numbers dealt Wall Street a fresh blow overnight, sending the S&P 500 down by as much as 4.4 percent at one point.

The dollar was available against the Indian rupee at Rs 61.63, the greenback was at 3.2740 in terms of Malaysian ringgit and the US currency was at 6.1240 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 77.40-77.41 (previous 77.40-77.41). Call Money Rates: 07.00-09.25 percent (Previous 07.00-09.25 percent).

Open Bid       Rs.102.89
Open Offer     Rs.102.90

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

Bid Rate       Rs.102.70
Offer Rate     Rs.102.90

RUPEE IN LAHORE: The Pak rupee maintained downward slide for another day and was further declined by five paisa against the US dollar on the local currency market on Thursday.

According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 102.65 and Rs 102.90 as its buying and selling rate, respectively. Because of buyers’ interest, the dollar was ended at Rs 102.70 and Rs 102.95 on buying and selling side, respectively, the dealers said.However, the rupee showed stability and remained unchanged against the British pound. The pound was purchased and sold at its overnight closing of Rs 164.00 and Rs 164.25, 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) against. 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