The rupee touched the new record level at 95 against dollar in the open market on Thursday on higher demand for the greenback, dealers said. The rupee overcomes weakness in relation to dollar, gaining five paisa for buying and selling at 94.10 and 94.15, they said.
INTERBANK MARKET: According to the Reuters: In the fourth Asian trade euro held firm against dollar, as vague hopes of more policy action, both in Europe and the United States, led short-term players to wind back their massive bets against the currency. Also boosting risk sentiment in general, the Australian dollar shot up to a three-week high after data showed Australian employment surged in May despite forecast of a fall.
Interbank buy/sell rates for taka against dollar on Thursday: 81.91-81.95 (previous 81.92-81.94) Call Money Rates. The yuan ended flat against dollar on Thursday as the US currency weakened with investors awaiting clarity from the US Federal Reserve Board about new policy. The dollar was trading against the Indian rupee at Rs 55.13 and it was at 3.1660 in terms of the Malaysian ringgit.
OPEN MARKET RATES: The rupee hit the new low versus dollar, losing 30 paisa for buying and selling at 94.80 and 95.00, they said.
As a result of recovery in euro's value in the globe, the rupee fell sharply in terms of the single European currency, losing Rs 1.10 for buying and selling at Rs 118.50 and Rs 119.50, they added. In the absence of fresh inflows and drying up of foreign direct investment may cause further decline in the rupee in relation to dollar, experts said, adding that it's an anticipation by the speculators that fall of the rupee is deliberate as the International Monetary Fund (IMF) considered, the rupee is overvalued.
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Buying Rs 94.10
Selling Rs 94.15
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Open Market Rates: Open Market Rates for Dollar on Thursday.
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Open Buying Rs 94.80
Open Selling Rs 95.00
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RUPEE IN LAHORE: The Pak rupee breached the level of 95 against the dollar on the open currency market on Thursday, dealers said.
The dollar closed higher by 60 paisa for buying at Rs 94.90 and it rose by 50 paisa for selling at Rs 95.30, they said. As a result, most of the moneychangers avoided selling of greenback rather they preferred buying in anticipation of further appreciation in coming days, the dealers said.
Similarly, the rupee continued downward trend and further depreciated its worth against the pound sterling. The pound was purchased and sold at Rs 146.60 and Rs 147.30 as compared to Wednesday closing of Rs 145.60 and Rs 146.20 respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the local currency shops of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 93.50 (buying) and Rs 93.60 (selling) against same last rate. It closed at Rs 93.50 (buying) and Rs 93.60 (selling).
Pound Sterling opened at Rs 145 (buying) and Rs 146 (selling) against same last rate. It did not observe further change in the last trading hours and closed at Rs 145 (buying) and Rs 146 (selling).
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