Strong demand for dollars pushed the rupee down on the open currency market on Thursday, dealers said. In the evening session, the dollar touched Rs 102.60 due to rush buying of dollars by investors for purchasing of gold, some experts said, adding that secondly, they were also purchasing dollars to invest on the stocks market.
Experts said that local stock market crossed 31,600-level on strong buying that week. After the sharp fall in the oil prices locally and globally, the investors started investing their hard earning in the purchasing of gold and stocks as a safe haven, they added.
INTERBANK MARKET RATES: The rupee shed 10-paisa against the dollar for buying and selling at Rs 101.70 and Rs 101.90 respectively. It also dropped 25-paisa against the euro for buying and selling at Rs 127.00 and Rs 127.25 respectively, they said.
OPEN MARKET RATES: The rupee, however, gained 10-paisa versus dollar for buying and selling at Rs 101.70 and Rs 101.72 respectively, they said. In the fourth Asian trade, the dollar took time out from its rally against the yen and euro as traders awaited Chinese and US data for fresh catalysts, while the Australian dollar slid after a central bank official said an intervention on the currency has not been ruled out. The British pound languished at 14-month lows versus its US peer after dovish messages from the Bank of England.
The dollar was trading against the Indian rupee at Rs 61.54, the greenback was at 3.3360 in relation to the Malaysian ringgit and the US currency was available at 6.1280 in terms of the Chinese yuan. Interbank buy-sell rates for the taka against the dollar on Thursday: 77.51-77.51 (previous 77.48-77.51). Call Money Rates: 06.75-08.50 percent (Previous 06.50-08.50 percent).
Open Bid Rs.101.70
Open Offer Rs.101.90
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
RUPEE IN LAHORE: The Pak rupee maintained downward slide and was further declined by 25-paisa in relation to the greenback on the local currency market on Thursday.
According to the currency dealers, the dollar resumed trading on a positive sign and kept on rising during the day’s trading. At close, the dollar was ended further up at Rs 101.75 and Rs 102.00 on buying and selling side against Rs 101.50 and Rs 101.75 of Wednesday, respectively.
However, the rupee recovered some of its earlier loss and was improved against the British pound. The pound was purchased and sold at Rs 160.50 and Rs 160.75 compared with overnight closing of Rs 161.25 and Rs 161.50, respectively, the dealers 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 103 (buying) and Rs 103.10 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 103 (buying) and Rs 103.10 (selling).
Pound Sterling opened at Rs 164 (buying) and Rs 164.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 164 (buying) and Rs 164.10 (selling).