WEB DESK: An easier trend was witnessed on the money market on Thursday in the process of trading, dealers said.
The demand for dollars was high to clear payments, in the meantime, it looks that the local currency may recover lost ground versus the dollar, some experts said.
INTERBANK MARKET RATES: The rupee shed two-paisa against the dollar for buying and selling at Rs 105.49 and 105.50 respectively, they said.
OPEN MARKET RATES: The rupee drifted lower by 10-paisa in terms of the dollar for buying and selling at Rs 106.00 and Rs 106.30 respectively, they said. Similarly, the rupee also lost 45 paisa versus the euro for buying and selling at Rs 113.70 and Rs 114.70 respectively, they added.
In the fourth Asian trade, the dollar edged down but stood close to a seven-month high, getting a lift from Federal Reserve officials’ comments as well as the central bank’s latest meeting that hinted that an interest rate hike could be right around the corner.
The dollar index was down about 0.2 percent at 99.436, after hitting a high of 99.853 overnight, closing in on its 12-year peak of 100.39 set in March. The dollar was trading against the Indian rupee at Rs 66.11. The greenback was at 4.3290 in terms of the Malaysian ringgit and the US currency was at 6.3785 in relation to the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 78.81-78.83 (previous 78.74-78.75).
Open Bid Rs.106.00
Open Offer Rs.106.30
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
Bid Rate Rs.105.49
Offer Rate Rs.105.50
RUPEE IN LAHORE: The rupee-dollar parity was reported stagnant amid sluggish trading on Thursday.
The dollar began trading at its day earlier closing of Rs 106.70 and Rs 107.00 as its buying and selling side but failed to see any change in its rate, ending its opening level.
The rupee kept going falling against the pound sterling, which was traded at Rs 161.80 and Rs 162.20 on the buying and selling counter against the Wednesday closing of Rs 161.20 and Rs 161.50.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar further gained strength against the Pak rupee at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against overnight value of Rs 105 (buying) and Rs 105.20 (selling). It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).