Further gain was seen in the interbank market on Thursday as the rupee managed to gain four paisa more against dollar for buying and selling at Rs 60.75 and Rs 60.77, while it turned lower in open market dealers said. Smooth supply of dollars provided the rupee an opportunity to gain profit against dollar in interbank dealings.
The yen rebounded during the forth session of the week as investors picked up the currency after a sharp drop the previous session, when recovering US stocks whetted investor appetite for risky trades that involve selling the low-yielding yen.
The yen clawed back in early Asian trade after euro posted its best one-day showing against the Japanese currency in more than three years on Wednesday, but traders said the yen may lose more if Asian stocks follow Wall Street higher.
OPEN MARKET RATES: The rupee shed two paisa against the dollar for buying at Rs 60.92 and it lost three paisa for selling at Rs 60.98, dealers said. The rupee failed to retain its firmness against euro, losing 45 paisa for buying and selling at Rs 82.90 and Rs 83.00, they said.
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Kerb Buying Rs 60.92
Kerb Selling Rs 60.98
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
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Buying Rs 60.75
Selling Rs 60.77
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RUPEE IN LAHORE: The rupee marginally improved by three paisa in the local currency markets on Thursday.
The dollar's trading began at the overnight closing level of Rs 60.88 and Rs 60.98 as its buying and selling rates though it failed to maintain its position and declined to Rs 60.85 and Rs 60.95 on buying and selling sides. The rupee maintained an upward movement and improved its value against the pound sterling bought and sold at Rs 122.00 and Rs 122.30 as compared to the previous closing of Rs 122.15 and Rs 122.40.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi on Thursday.
The dollar opened at Rs 60.90 (buying) and Rs 61.00 (selling) against the overnight value. It did not observe any change in the second session and closed at Rs 60.90 (buying) and Rs 61.00 (selling).
Pound sterling opened at Rs 123.30 (buying) and Rs 123.70 (selling) against the previous rate. It did not observe any change in the evening session and closed at Rs 123.30 (buying) and Rs 123.70 (selling).
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