The rupee breached the barrier of 92 versus dollar in the open market on Thursday in process of strong demand for the US currency, experts said. The rupee posted fresh gains of six paisa in terms of dollar for buying at 90.84 and picked up five paisa for selling at 90,87, they said.
INTERBANK MARKET: According to the Reuters, in the fourth Asian trade, euro inched up after plunging to a four-onth low the day before, but the move was seen as temporary as some Greek banks faced emergency funding needs, compounding fears that an exit from the euro may put more pressure on other struggling European nations.
The common currency fetched $1.2738, up 0.2 percent on the day, though it was still within shouting distance of the four-month low at 1.2681 plumbed the day before. The euro has already shed 3.7 percent in May, coming close to its 2012 trough in mid-January of 1.2624.
Indian rupee hit a record low against the dollar for a second session in a row as global risk assets remained largely under pressure, leading the central bank to intervene again, according to traders. The Indian rupee slumped to a new life low of 54.60 to dollar, surpassing the previous session low of 54.52. The RBI stepped in to prevent a wider rout, multiple dealers said.
The cross settled at 54.48/49, in range with Wednesday's close of 54.49/50, as per State Bank of India data. Dealers said liquidity was thin in the forex market with bid-ask quotes often wide. Interbank buy/sell rates for taka against the dollar on Thursday. 81.80-81.85 (previous 81.76-81.83) Call Money Rates: 9.00-15.00 percent (previous 9.00-15.00 percent). The yuan ended a touch lower on Thursday, tracking the dollar's global movements, while traders said data issued by the Bank for International Settlements (BIS) showed that China intended to keep its currency largely stable. Spot yuan closed at 6.3252 per dollar, down slightly from 6.3222 at Wednesday's close.
OPEN MARKET RATES: The rupee failed to resist fresh losses in terms of the dollar, losing 15 paisa for buying and selling at 91.90 and 92.10, they said. The rupee also shed 30 paisa in relation to euro for buying and selling at Rs 117.00 and Rs 118.00, they said.
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Open Buying Rs 91.90
Open Selling Rs 92.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Buying Rs 90.84
Selling Rs 90.87
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RUPEE IN LAHORE: The Pak rupee showed stability and stayed unchanged against the greenback on the local currency market on Thursday. According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 91.9 and Rs 92.1 as its buying and selling rates, respectively. The dollar witnessed no change in its value during the day's trading and the opening rates continued to prevail throughout the day.
Similarly, rupee remained unchanged on buying side while it gained strength on selling side against the British pound. The pound was purchased and sold at Rs 146.5 and Rs 147 as compared to Wednesday closing of Rs 146.5 and Rs 147.3, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained uncharged at the local currency exchange establishments of Islamabad and Rawalpindi here on Thursday. The dollar opened at Rs 91.10 (buying) and Rs 91.20 (selling) against last rate of Rs 91 (buying) and Rs Rs 91.10 (selling). It did not observe any further change in the second session and closed at Rs 91.10 (buying) and Rs 91.20 (selling). Pound Sterling opened at Rs 146 (buying) and Rs 147 (selling) against same previous rate. British currency did not observe further change in the last trading hours and closed at Rs 146 (buying) and Rs 147 (selling).
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