THE RUPEE: upward trend

Rising trend was seen on the currency market on Thursday in the process of trading activity, dealers said. The rupee rose by 32 paisas against the dollar for buying and selling at Rs 158.23 and Rs 158.25 respectively, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee picked up 30 paisas in re relation to the dollar for buying and selling 158.20 and Rs 158.70 respectively, they said. The national currency gained 80 paisas versus the euro for buying and selling Rs 173.20 and Rs 175.80 respectively, they added.
The fourth Asian trade, the dollar held gains on Thursday after minutes from the Federal Reserve's last policy meeting hosed down some aggressive expectations the central bank would embark on a series of deep interest rate cuts.
Asian currencies are expected to trade in tight ranges on Thursday ahead of US Federal Reserve Chairman Jerome Powell's speech at Jackson Hole on Friday for signs of just how far the US central bank is prepared to lower rates.
The dollar was trading against the Indian rupee at Rs 71.560, the greenback was at 4.175 versus the Malaysian ringgit and the US currency was available at 7.068 in terms of the Chinese yuan.

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Open Bid       Rs.158.20

Open Offer     Rs.158.70

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.

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Bid Rate       Rs.158.23

Offer Rate     Rs.158.25

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RUPEE IN LAHORE: The Pak rupee appreciated its worth versus the major foreign currencies including the greenback and the British pound in the local currency market on Thursday.
Following lack of buyers' interest in the market, the greenback could not sustain its worth and ended lower for buying and selling at Rs 157.20 and Rs 158.50 against the overnight closing trend of Rs 158.30 and Rs 158.90 respectively, local currency dealers said.
Similarly, the national currency also followed the suit in the process of trading against the pound sterling. Consequently, the pound's buying and selling rates slid from the Wednesday's closing of Rs 190.40 and Rs 191.50 to Rs 189.10 and Rs 190.70 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 20 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 159(buying) and Rs 159.10(selling) against last rate of Rs 159.20(buying) and Rs 159.30(selling).
It closed at Rs 159(buying) and Rs 159.10(selling).
The buying and selling rates of one tola of gold remained as Rs 89,000(selling) and Rs 89,800(buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
Copyright Business Recorder, 2019