THE RUPEE: mixed patterns ahead of budget

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-File Photo


The rupee-dollar parity rates moved both ways on the money market on Thursday ahead of budget 2017-18, dealers said. The rupee slipped by two paisas in relation to the dollar for buying and selling at Rs 104.86 and Rs 04.88 respectively, they said.

INTER-BANK MARKET RATES: In the fourth Asian trade, the dollar was on the defensive after the Federal Reserve dialled down on some of the more hawkish policy expectations in the market, while the euro edged back up towards a 6-1/2-month high.

Fed policymakers agreed they should hold off on raising interest rates until they see evidence that a recent economic slowdown was transitory, the minutes from their last policy meeting showed on Wednesday. The dollar index against a basket of major currencies was down 0.3 percent at 96.972. The dollar was little changed at 111.635 yen, pushed away from a one-week high of 112.130 scaled the previous day.

The euro, which went as low as $1.1168 overnight, was 0.2 percent higher at $1.1240, making its way back towards the 6-1/2-month peak of $1.1268 touched on Tuesday. The dollar was trading against the Indian rupee at Rs 64.513, the greenback was at 4.275 in terms of the Malaysian ringgit and the US currency was at 6.873 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 80.53-80.55 (previous 80.53-80.55).

OPEN MARKET RATES: The rupee gained 10 paisas in relation to the dollar for buying at Rs 105.90 and it also picked up five paisas for selling at Rs 106.10, however it shed five paisas in terms of the euro for buying and selling at Rs 118.30 and 119.80 respectively, they said.


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Open Bid       Rs.105.90

Open Offer     Rs.106.10

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

 


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Bid Rate       Rs.104.86

Offer Rate     Rs.104.88

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RUPEE IN LAHORE: The Pak rupee showed stability and remained unchanged against the US dollar in the local currency market on Thursday.

According to the currency dealers, no major changes were seen in demand and supply of dollar which helped rupee to hold it’s firmness. The dollar was traded at its day earlier closing of Rs 106.10 and Rs 106.30 on buying and selling side, respectively.

However, the rupee failed to maintain its position and remained under pressure against the pound sterling. The pound’s buying and selling rate improved from the Wednesday closing of Rs 137.00 and Rs 137.30 to Rs 137.10 and Rs 137.50, respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed no variation against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday. The dollar opened at Rs 105.90 (buying) and Rs 106 (selling) against last rate of Rs 106.05 (buying) and Rs 106.15. It closed at Rs 105.90 (buying) and Rs 106 (selling). Pound Sterling opened at Rs 135 (buying) and Rs 135.50 (selling). It closed at the same rate.-Business Recorder

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