THE RUPEE: slight fall

The rupee failed to sustain its overnight gains in relation to the dollar on the money market on Thursday in the process of trading, dealers said. The rupee shed 10-paisa versus the dollar for buying and selling at Rs 100.50 and Rs 100.70 respectively, however it picked up one rupee in terms of the euro for buying and selling at Rs 120.50 and Rs 120.75 respectively, they said.
OPEN MARKET RATES: In the overseas market, the US dollar on Wednesday added slightly to gains that have made it the year's star major currency. The dollar ended 2014 up 12.8 percent against a basket of major currencies, its best performance since 1997. An expected start to a Federal Reserve tightening cycle may strengthen the dollar's appeal in the new year.
The euro, undermined by bets that the European Central Bank will have to start buying government bonds to avert deflation, was down 0.5 percent at $1.2098, having touched a 2-1/2-year low of $1.2095. Interbank buy/sell rates for the taka against the dollar on Thursday: 77.95-77.95 (previous 77.95-77.95). Call Money Rates: 07.00-09.90 percent (Previous 07.00-09.90 percent).

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Open Bid       Rs.100.50

Open Offer     Rs.100.70

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RUPEE IN LAHORE: The Pak rupee failed to maintain upward slide and was marginally declined by five-paisa against the US dollar on the local currency market on Thursday.
According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 100.40 and Rs 100.65 as its buying and selling rate, respectively. Because of lacking buyers' interest, the dollar was declined to Rs 100.45 and Rs 100.70 on buying and selling counter, respectively, the dealers said.
Similarly, the rupee could not continue rising trend and was depreciated against the British pound. The pound was purchased and sold at Rs 155.75 and Rs 156.00 compared with previous closing of Rs 155.50 and Rs 155.75, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 101.30 (buying) and Rs 101.40 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101.30 (buying) and Rs 101.40 (selling). Pound Sterling opened at Rs 158 (buying) and Rs 159 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 159 (selling).
Copyright Business Recorder, 2015