THE RUPEE: handsome recovery

Handsome recovery was again witnessed on the currency market on Thursday as the rupee posted fresh gains against the dollar in the process of trading, dealers said. The rupee picked up 38-paisa in relation to the dollar for buying and selling at 102.47 and Rs 102.50 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also posted fresh gains by 40-paisa in terms of the dollar for buying and selling at Rs 102.40 and Rs 102.60 respectively. It also appreciated in relation to the euro, gaining 50-paisa for buying and selling at Rs 128.00 and Rs 128.25, they said.

In the fourth Asian trade, the dollar rose to a fresh seven-year high against the yen after upbeat US jobs-related data added to the allure of the greenback, already on a bullish footing thanks to a further divergence in US and Japanese monetary policies.

The dollar touched 114.98 yen, the highest since November 2007. The US currency has gained more than 5 percent against the yen since Friday, when the Bank of Japan surprised the markets by enhancing its already massive monetary easing program.

The dollar was trading against the Indian rupee at Rs 61.41, the greenback was available at 3.3355 in terms of the Malaysian ringgit and the US currency was at 6.1140 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 77.40-77.41 (previous 77.40-77.41). Call Money Rates: 06.85-08.75 percent (Previous 06.75-08.75 percent).

Open Bid       Rs.102.40
Open Offer     Rs.102.60

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

Bid Rate       Rs.102.47
Offer Rate     Rs.102.50

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

According to the currency dealers, the dollar resumed trading at its overnight closing of Rs 102.95 and Rs 103.20 as its buying and selling rate, respectively. In the absence of buyers’ interest, the dollar could not sustain and was declined to Rs 102.85 and Rs 103.10 on buying and selling rate, respectively, the dealers said.

Similarly, the rupee recovered its day earlier loss and was improved against the British pound. The pound’s buying and selling rates went down from Wednesday closing of Rs 164.75 and Rs 165.00 to 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 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).

Recorder Report