On the back of rising demand, the dollar managed to make further ground against the rupee on the money market on Thursday in the process of trading activity, dealers said. The rupee held the almost overnight levels versus 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 dollar lost momentum on Thursday after the double-whammy of dovish-looking minutes of the Federal Reserve's last policy meeting and the threat by US President Donald Trump of imposing new tariffs on imported cars.
The euro was hampered by concerns over an economic slowdown in the currency bloc and political risks in Italy, staying near a six-month low against the dollar and a nine-month nadir versus the yen.
"The minutes suggested the Fed is not in a hurry to raise interest rates. The US stock markets seem to like that they were not too hawkish," said Ayako Sera, market economist at Sumitomo Mitsui Trust bank.
The dollar was available against the Indian rupee at Rs 68.325, the greenback was trading at 3.981 against the Malaysian ringgit and the US currency was at 6.391 in terms of 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 lost 40 paisas in terms of the dollar for buying and selling at Rs 118.20 and Rs 118.70 respectively, they said. The national currency, however, lost 50 paisas versus the euro for buying and selling at Rs 138.50 and Rs 140.00 respectively, they said.
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Open Bid Rs.118.20
Open Offer Rs.118.70
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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 showed falling trend for the third consecutive day in relation to the greenback in the local currency market on Thursday.
According to currency dealers, the short supply phenomenon of the greenback prevailed for another day in the currency market which helped its further appreciation for buying and selling at Rs 118.40 and Rs 118.70 as compared to the overnight closing trend of Rs 118.00 and Rs 118.50 respectively.
Versus the British pound, the national currency also followed the same suit in terms of trading. Consequently, the pound's buying and selling rates rose from Wednesday's closing of Rs 156.80 and Rs 158.20 to Rs 157.90 and Rs 159.00 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 40 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 117.90 (buying) and Rs 118 (selling) against last rate of Rs 117.50 (buying) and Rs 118 (selling). It closed at Rs 117.90 (buying) and Rs 118 (selling).
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