THE RUPEE: minor changes

Rupee.png

-File Photo


-File Photo

Slight changes were seen on the money market on Thursday as the rupee did not move sharply against the dollar on the money market in the process of trading, dealers said. The rupee almost traded in its overnight levels versus the dollar for buying and selling at Rs 104.86 and Rs 104.88 respectively, dealers said.

INTER-BANK MARKET RATES: In the fourth Asian trade, the Australian and New Zealand dollars were stung by a private survey showing an unexpected slump in China’s manufacturing activity. The Australian dollar fell to $0.7394, from $0.7431 earlier in the day. A break of $0.7370 would test a trough of $0.7329 touched last month.

The Aussie dropped around half a US cent after a disappointing economic report from China, Australia’s top export market. A private survey of China’s manufacturing activity contracted in May for the first time in nearly a year. That contrasted with an official survey released on Wednesday showing activity remained in expansionary territory.

“AUD was enjoying a surprise rebound from retail sales today, for all of a couple of minutes before China’s manufacturing PMI spoiled the party,” said Matt Simpson, a senior analyst at ThinkMarkets. The common currency clocked a gain of more than 4 percent in May for the second consecutive month. A break of A$1.5363 would target the May 2016 high of A$1.5644.

The Aussie fell hard against the safe-haven Swiss franc to stand near one-year lows. The dollar was trading against the Indian rupee at Rs 64.475, the greenback was at 4.287 versus the Malaysian ringgit and the US currency was at 6.800 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 80.57-80.57 (previous 80.57-80.57).

OPEN MARKET RATES: The rupee was unmoved in terms of the dollar for buying and selling at Rs 105.90 and Rs 106.10 respectively, they said. The rupee shed 10 paisas versus the euro for buying and selling at Rs 118.50 and 120.00 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 mixed patterns as it moved both ways against the US dollar in the local currency market on Thursday.

According to currency dealers, the dollar commenced trading on a mixed pattern following divergent trend in the market. At the close, it was ended at Rs 105.90 and Rs 106.10 on buying and selling sides as compared to the overnight closing rates of Rs 105.80 and Rs 106.15 respectively, they added.

Moreover, the national currency registered reduction versus the pound sterling. The pound’s buying and selling rates went up from Wednesday’s closing rates of Rs 135.00 and Rs 135.80 to Rs 135.50 and Rs 136.50 respectively, they said.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee was unchanged 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