The rupee after maintaining a firm trend for a long-time against the dollar, fell gradually in process of trading, dealers said on the money market on Thursday. The rupee shed three paisas in terms of the dollar for buying and selling at Rs 105.49 and Rs 105.51, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: Similarly, the rupee adopted the same pattern against the dollar in the inter-bank market, losing 10 paisas for buying and selling at Rs 107.30 and Rs 107.50, they said. The rupee tumbled with sharp losses in terms of the euro, dropping Rs 1.05 for buying and selling at Rs 126.80 and Rs 128.05, they said.
In the fourth Asian trade, the dollar touched a two-month low against the yen, having tumbled after the minutes of the Federal Reserve's latest meeting showed some policymakers were concerned about persistently low inflation in a blow to rate hawks.
The dollar eased to as low as 111.07 yen e, its weakest level since Sept. 18. The dollar later came off that low and last fetched 111.29 yen, up 0.1 percent on the day.
The greenback nursed its losses after sliding nearly 1.1 percent against the yen on Wednesday, its biggest one-day drop since mid-May.
The minutes of the Fed's Oct.31-Nov.1 policy meeting released on Wednesday showed that Fed policymakers expect that interest rates will have to be raised in the "near term", reinforcing market expectations that the Fed will raise interest rates in December.
The minutes, however, also highlighted concern among some of the members over the inflation outlook, with the emphasis placed on economic data in determining the timing of future rate rises.
The dollar was trading against the Indian rupee at Rs 64.82, the greenback was available at 4.112 in terms of the Malaysian ringgit and the US currency was at 6.593 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday: 81.60-81.60 (previous 81.50-81.60).
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Open Bid Rs.107.30
Open Offer Rs.107.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.105.49
Offer Rate Rs.105.51
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RUPEE IN LAHORE: The Pakistani rupee remained under pressure for the second consecutive day versus the US dollar in the local currency market on Thursday.
According to currency dealers, the short supply phenomenon of the US dollar continued to prevail for another day in the currency market. Consequently, it further climbed up at Rs 107.40 and Rs 107.65 for buying and selling, respectively, as compared to the overnight closing trend of Rs 107.35 and Rs 107.55 respectively, they added.
Furthermore, the local currency moved both ways in terms of the pound sterling. The pound was bought and sold at Rs 141.90 and Rs 142.90 against Rs 141.20 and Rs 142.30 of Wednesday, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed improvement against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 107.40 (buying) and Rs 107.50 (selling) against last rate of Rs 107.60 (buying) and Rs 107.70 (selling). It closed at Rs 107.40 (buying) and Rs 107.50 (selling).
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