An upward trend prevailed on the money market on Thursday as the rupee improved in relation to the dollar during post-election session, dealers said.
INTER-BANK MARKET RATES: The rupee gained 17 paisas in terms of the dollar for buying and selling at 128.15 and Rs 128.20, they added.
OPEN MARKET RATES: The rupee picked up 50 paisas against the dollar for buying and selling at Rs 129.00 and Rs 129.30, while the rupee did not show any change versus the euro for buying and selling at Rs 148.00 and Rs 150.50, they said.
In the fourth Asian trade, the dollar slipped on Thursday and the euro edged higher, as immediate concerns about global trade tensions ebbed after the United States and the European Union agreed to begin talks to lower tariffs.
Following talks on Wednesday with European Commission President Jean-Claude Juncker, US President Donald Trump said they agreed to "work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods."
The euro was up 0.1 percent at $1.1738, extending its rise after gaining 0.4 percent the previous day. Early on Wednesday, before the Trump-Juncker talks, the single currency slipped to a low of $1.1664 on media reports that Trump was considering imposing a 25 percent tariff on foreign-made cars. But it bounced back on comments of the two leaders that showed desire to find solutions to trade conflicts between the US and European Union.
Extending overnight losses, the dollar index against a basket of six major currencies was down 0.25 percent at 94.134 after brushing 94.087, its lowest since July 10.
The dollar was trading against the Indian rupee at Rs 68.703, the US currency was at 4.058 in terms of the Malaysian ringgit and the greenback was at 6.783 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 83.75-83.75 (Previous 83.75-83.75).
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Open Bid Rs.129.00
Open Offer Rs.129.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.128.15
Offer Rate Rs.128.20
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RUPEE IN LAHORE: The Pak rupee registered appreciation in terms of trading against the American dollar in the local currency market on Thursday.
According to currency dealers, the greenback commenced trading on a negative note following lack of buyers' interest in the market. Consequently, it ended lower for buying and selling at Rs 128.20 and Rs 129.00 as compared to the last closing trend of Rs 129.20 and Rs 130.00 respectively, they added.
The national currency, however, declined by 30 paisas versus the British pound. The pound's buying and selling rates rose from Tuesday's closing of Rs 165.20 and Rs 166.20 to Rs 165.50 and Rs 166.50 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed a recovery of 50 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs129.50 (buying) and Rs129.60 (selling) against last rate of Rs130 (buying) and Rs130.10(selling). It closed at Rs129.50 (buying) and Rs129.60 (selling).
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