THE RUPEE: dollar moves both ways

The rupee-dollar parity moved both ways on the currency market on Thursday in process of slow trading, dealers said. The rupee drifted lower against dollar, losing nine paisa for buying at 94.45 and 10 paisa for selling at 94.50, dealers said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, rose by five paisa in terms of dollar for buying and selling at 94.25 and 94.45, they said. The rupee also picked up 70 paisa against euro for buying and selling at Rs 114.80 and Rs 115.80, respectively.
In the fourth Asian trade dollar surged to a one-month high against yen, extending gains after this week's upbeat US data gave a boost to Treasury yields and cooled expectations of monetary easing by the Federal Reserve. The dollar climbed on stop-loss buying, adding to a rally that began earlier in the week after strong retail sales data bolstered the view that a recent slowdown in US growth will prove temporary. The dollar was trading against the Indian rupee at Rs 55.97, the greenback was available versus the Malaysian ringgit 3.1300 per unit and the US currency was at 6.367 in terms of the Chinese yuan.

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Open Buying     Rs.94.25

Open Selling    Rs.94.45

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.

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Bid Rate        Rs.94.45

Offer Rate      Rs.94.50

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RUPEE IN LAHORE: The Pak rupee lost 10-paisa on buying side while it stayed unchanged on selling side in relation to the greenback in the local currency market on Thursday.
According to the currency dealers, the dollar commenced trading at its day earlier closing of Rs 94.30 and Rs 94.60 on buying and selling side. The dollar witnessed invisible fluctuation in its selling rate during the day's trading. The dollar was ended at Rs 94.40 and Rs 94.60 as its buying and selling rates, respectively.
Similarly, the rupee remained depressed on buying side while remained unchanged on selling side against the pound sterling. The pound was traded at Rs 147.00 and Rs 147.40 on buying and selling counters against the overnight closing of Rs 146.60 and Rs 147.40, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 94.20 (buying) and Rs 94.30 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 94.20 (buying) and Rs 94.30 (selling).
Pound Sterling opened at Rs 146 (buying) and Rs 146.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 146 (buying) and Rs 146.50 (selling).
Copyright Business Recorder, 2012