The rupee continued its decline against the dollar on the money market on Thursday in the process of trading activity, dealers said. The rupee managed to hold overnight levels in relation to the dollar for buying and selling Rs 115.61 and Rs 115.62 respectively, they said.
INTER-BANK MARKET RATES: In the third Asian trade, the euro won a reprieve on Thursday, holding on to the strong gains it made on Wednesday, as Italian leaders moved to mitigate political turbulence and avoid a potentially disruptive early election.
Italian Prime Minister-designate Carlo Cottarelli said on Wednesday that possibilities had emerged "for the birth of a political government," suggesting politicians, rather than technocrats like himself, might be able to steer the country out of deadlock.
That has eased fears that fresh Italian elections could strengthen the hand of anti-establishment parties, helping to bring down Italian bond yields after they spiked sharply on Tuesday.
The euro traded little changed at $1.1654, having risen 1.1 percent the previous day, its second-biggest daily gain so far this year. It had hit a 10-month low of $1.1510 on Tuesday.
The dollar was trading against the Indian rupee at Rs 67.460, the greenback was at 3.975 in terms of the Malaysian ringgit and the US currency was available at 6.407 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 83.70-83.70 (Previous 83.70-83.70).
OPEN MARKET RATES: The rupee dropped 10 paisas in terms of the dollar for buying and selling at Rs 118.40 and Rs 118.90 respectively, they said. The rupee lost 80 paisas versus the euro for buying and selling at Rs 138.30 and Rs 140.00 respectively, they said.
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Open Bid Rs.118.40
Open Offer Rs.118.90
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.115.61
Offer Rate Rs.115.62
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RUPEE IN LAHORE: The Pak rupee stayed firmed on buying side while it depreciated on selling side in relation to the greenback in the local currency market on Thursday.
According to currency dealers, the greenback resumed trading on its overnight closing of Rs 118.60 and Rs 118.80 as its buying and selling rates respectively. The greenback did not witness any change as it firmly sustained its opening trend for buying. However, it further appreciated and ended higher for selling at Rs 119.10, they added.
Furthermore, the national currency maintained declining trend for the second consecutive day against the pound sterling. Consequently, the pound's buying and selling rates further rose from Wednesday's closing of Rs 156.90 and Rs 157.80 to Rs 157.70 and Rs 158.70 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs118.50 (buying) and Rs 118.60 (selling) against same last rate. It closed at Rs118.50 (buying) and Rs 118.60 (selling).
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