Bears dominated the local currency market on Thursday as a result of strong demand for dollars, dealers said. After maintaining a stable situation, the rupee failed to hold present levels against the dollar mainly because of good demand for the US currency, they added.
INTERBANK MARKET RATES: The rupee drifted lower in relation to the dollar, shedding two paisa for buying and selling at Rs 98.35 and Rs 98.37, they added.
OPEN MARKET RATES: The rupee dropped by 15 paisa in terms of the greenback for buying and selling at Rs 99.00 and Rs 99.25, they added.
The rupee, however, gained 15 paisa against the euro for buying and selling at Rs 126.10 and Rs 126.35, they said. In the fourth Asian trade, the yen dropped sharply on Thursday after the Bank of Japan announced aggressive easing, saying it will double its holdings of bonds and stocks in two years.
The BOJ also said it would extend the average maturity of bonds it holds to around seven years from around three years now, dashing suspicions that it could under deliver as it had often in the past. The dollar was trading against the Indian rupee at Rs 54.83, the US currency was available at 3.0815 in terms of the Malaysian ringgit and the greenback was at 6.2010 in relation to the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 78.08-78.09 (78.10-78.1050). Call Money Rates: 06.75-07.25 percent (previous 05.75-07.50 percent.
========================
Open Bid Rs.99.00
Open Offer Rs.99.10
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
========================
Bid Rate Rs.98.35
Offer Rate Rs.98.37
========================
RUPEE IN LAHORE: The Pak rupee depreciated in relation to the greenback on the local currency market on Thursday. According to the currency dealers, the dollar opened on a healthy sign following fresh demand. At close, the dollar was ended further higher at Rs 99.20 and Rs 99.50 on buying and selling side against Rs 98.90 and Rs 99.25 of Wednesday, respectively.
Similarly, the national currency remained under pressure and was slide down against the pound sterling. The pound was traded at Rs 148.50 and Rs 149.50 on buying and selling counters compared with previous closing of Rs 148.30 and Rs 149.00, respectively, the dealers 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.
Comments
Comments are closed.