Bulls persisted on the money market on Thursday as the rupee managed to keep its supremacy over the dollar and euro, dealers said. The rupee picked up 20-paisa in relation to the dollar for buying at Rs 106.40 and it also gained 23-paisa for selling at Rs 106.42, they added.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee rose by 15-paisa in terms of the greenback for buying at Rs 106.00 and it gained five-paisa for selling at Rs 106.20. It maintained its surge versus the euro, rising 75-paisa for buying and selling at Rs 144.75 and Rs 145.00, they said.
In the fourth Asian session, the dollar was hoisted to a more than five-year high against the yen on Thursday after the Federal Reserve started to dial back its massive bond-buying stimulus, giving markets a strong signal that the US economy was growing at a healthy clip. The euro also came under pressure against the greenback, hitting a two-week low, and analysts at BNP Paribas continued to recommend short euro/dollar strategy. The dollar was trading against the Indian rupee at Rs 62.42, the greenback was at 3.2750 versus the Malaysian ringgit and the US currency was at 6.0729 in terms of the Chinese yuan.
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Open Bid Rs 106.40
Open Offer Rs 106.42
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs 106.00
Offer Rate Rs 106.20
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RUPEE IN LAHORE: The Pak rupee could not continue rising trend and lost five-paisa against the US dollar on the local currency market on Thursday.
According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 105.80 and Rs 106.05 as its buying and selling rates, respectively. On account of marginal increase in dollar's demand, its rate was moved up to Rs 105.85 and Rs 106.10 on buying and selling side, respectively, the dealers said.
Similarly, the rupee remained under pressure and lost its worth against the British pound. The pound's buying and selling rates were increased from Wednesday closing of Rs 172.10 and Rs 172.35 to Rs 173.30 and Rs 173.55, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar 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 same last rate. 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 174 (buying) and Rs 174.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.
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