The rupee drifted lower against the dollar on the money market on Thursday in the process of trading, dealers said. The rupee shed 32 paisas versus the dollar for buying at Rs 133.00 and it also lost 40 paisas for selling at Rs 133.10, dealers said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: In sympathy with the inter-bank market, the rupee fell by 30 paisas in relation to the dollar for buying at Rs 132.50 while it lost 40 paisas for selling at Rs 133.00, they said. The domestic currency, however, gained 30 paisas in terms of the euro for buying and selling at Rs 150.60 and Rs 152.60, they said.
In the third Asian trade, the dollar traded in a narrow range on Thursday as markets settled after US midterm election results came in as expected, leaving investors free to focus on a Federal Reserve's policy decision later in the global day.
The central bank's Federal Open Market Committee (FOMC) is expected to maintain the hawkish language seen in recent policy statements, while keeping interest rates unchanged this time.
The Fed has raised rates three times this year as the US economy boomed and inflation started to pick up, and it has signalled a rate rise in December, with two more hikes by mid-2019. The dollar index, a gauge of its value versus six major peers traded at 96.22 on Thursday, gaining 0.23 percent.
The dollar was trading against the Malaysian ringgit at 4.161 and the greenback was available at 6.931 versus the Chinese yuan.
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Open Bid Rs.132.50
Open Offer Rs.133.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.133.00
Offer Rate Rs.133.10
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RUPEE IN LAHORE: The Pak rupee depreciated its worth versus the major foreign currencies including the greenback and British pound in the local currency market on Thursday.
According to currency dealers, the short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 132.15 and Rs 133.30 against the overnight closing rates of Rs 131.50 and Rs 132.70 respectively.
Similarly, the local currency also followed the same suit in process of trading against the pound sterling. The pound's buying and selling rates further improved from Wednesday's closing of Rs 171.50 and Rs 173.00 to Rs 172.30 and Rs 173.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 10 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 132.30 (buying) and Rs 132.40 (selling) against last rate of Rs 132.20 (buying) and Rs 132.30 (selling). It closed at Rs 132.30 (buying) and Rs 132.40(selling).
The buying and selling rates of gold were Rs 60,450 (selling) and Rs 60,200 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
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