A downward trend witnessed again on the money market as the rupee failed to come out of vulnerability because of surge in dollar demand after sharp fall in gold prices, dealers said on Thursday. The rupee came under pressure against the dollar, losing six paisa for buying and selling at Rs 98.94 and Rs 98.96, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee followed the same pattern in terms of the dollar, losing five paisa for buying and selling at Rs 100.45 and Rs 100.65, they said. The rupee, however, rose by 25 paisa against the euro for buying at Rs 130.25 and Rs 130.50, they said.
In the fourth Asian trade, the Australian dollar and other commodity currencies rose modestly on Thursday as Asian shares recovered after a sell-off earlier this week sparked by fears of credit problems in China, while a dovish message from European Central Bank officials kept the euro on the defensive.
The Australian dollar managed to outperform the greenback, as Asian equities showed some signs of stabilising, posting a gain of 1.6 percent. The dollar was trading against the Indian rupee at Rs 60.55, greenback was at 3.1820 in terms of Malaysian ringgit and greenback was at 6.1490 in relation to the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 77.75-77.76 (77.75-77.76). Call Money Rates: 05.50-07.00 percent (previous 05.50-07.50 percent.
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Open Bid Rs 98.94
Open Offer Rs 98.96
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs 100.45
Offer Rate Rs 100.65
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RUPEE IN LAHORE: The Pak rupee recovered some of its earlier loss and was marginally improved against the US dollar on the local currency market on Thursday.
According to the currency dealers, the dollar commenced trading at its overnight closing of Rs 100.50 and Rs 100.75 as its buying and selling rates, respectively. However, due to lacking buyers' interest, the dollar was slipped to Rs 100.40 and Rs 100.70 on buying and selling counters, respectively. Similarly, the Pak rupee showed strength and was appreciated against the British pound. The pound's buying and selling rates were declined from Wednesday closing of Rs 154.50 and Rs 155.00 to Rs 153.00 and Rs 153.25, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar was up by Re 1 against the rupee on the open currency markets of Islamabad and Rawalpindi here on Thursday. The dollar opened at Rs 101 for buying and Rs 101.10 for selling against the last rate of Rs 100 for buying and Rs 100.10 for selling. It did not observe further change in the second session and closed at Rs 101 (buying) and Rs 101.10 (selling). Pound Sterling opened at Rs 153 for buying and Rs 155 for selling against same last rate. It closed at the same rate without further change by the end of evening session.
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