Strong demand for dollars strengthened the US currency versus the rupee on the money market on Thursday during the process of trading, dealers said. The rupee might be traded in range-bound ahead of general elections in the country, experts said, adding the direction of the money market would emerge when anxieties would end about the outcome of results.
OPEN MARKET RATES: The rupee fell by 10 paisa against the dollar for buying at Rs 99.90 and the national currency also shed five paisa for selling at Rs 100.00, they said. The rupee continued its slide in relation to euro, losing 99 paisa for buying and selling at Rs 131.20 and Rs 131.45, they said.
INTERBANK MARKET RATES: The rupee, however, rose by six paisa in terms of the dollar for buying and selling at Rs 98.40 and it also picked up five paisa for selling at Rs 98.43, currency experts said.
In the fourth Asian trade, the euro eased versus the dollar on Thursday and stayed below the previous day's two-month high, but further losses could be limited with the market already positioned for a possible European Central Bank interest rate cut.
The euro inched down 0.1 percent to $1.3169. The single currency had hit a two-month high of $1.3243 on Wednesday on trading platform EBS, as the dollar retreated after data showed that US companies hired the fewest employees in seven months in April.
The dollar was available versus the Indian rupee at Rs 53.74, the greenback was trading against the Malaysian ringgit at 3.0560 and the US currency was 6.1551 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 77.93-77.94 (77.93-77.97). Call Money Rates: 06.50-07.00 percent (previous 06.10-08.00 percent. 77.93-77.97 (77.93-77.94). Call Money Rates: 06.50-07.00 percent (previous 06.50-08.00 percent).
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Open Bid Rs 99.90
Open Offer Rs 100.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs 98.40
Offer Rate Rs 98.43
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RUPEE IN LAHORE: The rupee was unchanged against the US dollar on the local currency market on Thursday.
According to the currencies dealers, the dollar resumed trading at its last Tuesday closing of Rs 100.10 and Rs 100.50 as its buying and selling rates, respectively. The dollar witnessed no change in its rate and was closed at the opening level, the dealers said.
However, the rupee failed to maintain upward trend and was declined against the pound sterling. The pound was purchased and sold at Rs 154.50 and Rs 155.00 compared with previous closing of Rs 153.50 and Rs 154.50, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 99.20 for buying and Rs 99.30 for selling against same last rate. It closed on same period of Rs 99.20 for buying and Rs 99.30 for selling by the end of evening session.
Pound Sterling opened at Rs 154 for buying and Rs 155 for selling against same last rate. It closed at the same rate without further change in the evening session.
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