Slight improvement in the supply of dollars helped the rupee to move up versus the US currency on the local currency market on Thursday in the process of trading activity, dealers said.

INTER-BANK MARKET RATES: RATES: The rupee appreciated by 70 paisas in terms of the dollar for buying and selling at Rs 167.00 and Rs 167.20 respectively, they said.

OPEN MARKET RATES: The rupee followed same pattern against the dollar, picking up 50 paisas for buying and selling at Rs 166.50 and Rs 167.20 respectively, they said. The rupee rose by 50 paisas versus the euro for buying and selling at Rs 177.00 and Rs 179.00 respectively, they said.

In the fourth Asian trade market, commodity currencies drew support on Thursday from hopeful signs the coronavirus pandemic may be peaking and that major oil producers may agree to cut output to stem a plunge in oil prices.

The Australian dollar fetched $0.6225, down slightly but still near its highest level since mid-March, maintaining most of its gains since rallying from a 17-year trough of $0.5510 touched three weeks ago.

The dollar's index against six other major currencies stood flat at 100.15 in early Thursday trade.

The dollar was trading against the Indian rupee at 76.490, the greenback was available at 4.337 versus the Malaysian ringgit and the US currency was at 7.066 in terms of the Chinese yuan.

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Open Bid       Rs 166.50
Open Offer     Rs 167.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.

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Bid Rate       Rs 167.00
Offer Rate     Rs 167.20
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