The rupee moved in a narrow band against the dollar due to comfortable supply of greenback during the week, ended on October 17, 2015. In the interbank market, the rupee gained five paisas against the dollar for buying and selling at Rs 104.37 and Rs 104.38.
In the open market, the rupee depicted firmness versus the dollar for buying and selling at Rs 104.40 and Rs 104.60. The rupee shed 20 paisas in terms of the euro for buying and selling at Rs 118.10 and Rs 119.10, they added.
Some currency analysts said that the rupee was able to sustain its present levels versus the dollar on the back of easy supply of US currency, dealers said. Other experts said that last week, the State bank of Pakistan (SBP) allowed exchange companies to import cash US dollar against exports of permissible foreign currencies for another three months.
This encouraging factor may help to manage dollars inflows in a proper manner. Besides, in the first quarter of current fiscal year, the Foreign Direct Investment (FDI) maintained firm posture after posting an eight percent growth.
INTER-BANK MARKET RATES: on Monday, the rupee shed one paisa versus the dollar for buying and selling at Rs 104.42 and Rs 104.44. On Tuesday, the rupee was unchanged in relation to the dollar for buying and selling at Rs 104.42 and Rs 104.44. On Wednesday, the rupee moved up one paisa in relation to the dollar for buying and selling at Rs 104.41 and Rs 104.43.
On Thursday, the rupee inched up versus the dollar, gaining four paisas for buying and selling at Rs 104.37 and Rs 104.38, they said. On Friday, the rupee was unchanged against the dollar for buying and selling at Rs 104.37 and Rs 104.38, they said.
OPEN MARKET RATES: On October 12, the rupee depicted no change in terms of the dollar for buying and selling at Rs 104.40 and Rs 104.60. The rupee, however, gave up overnight gains versus the euro, losing 60 paisas in relation to the euro for buying and selling at Rs 117.60 and Rs 118.60.
On October 13, the rupee depicted no change versus the dollar for buying and selling at Rs 104.40 and Rs 104.60: While, the lost 40 paisas versus the euro for buying and selling at Rs 118.40 and Rs 119.40.
On October 14, the rupee showed no change versus the dollar for buying and selling at Rs 104.40 and Rs 104.60: While, the rupee sustained overnight levels versus the euro for buying and selling at Rs 118.40 and Rs 119.40. On October 15, the rupee also gained five paisas in relation to the dollar for buying and selling at Rs 104.35 and Rs 104.55, they said. The rupee, however, slipped by 30 paisas in terms of the euro for buying and selling at Rs 118.70 and Rs 119.70, they added.
On October 16, the rupee also did not move any side in relation to the dollar for buying and selling at Rs 104.35 and Rs 104.55. The rupee, however, 80 paisas in terms of the euro for buying and selling at Rs 117.90 and Rs 118.90.
On October 17, the rupee could not maintain overnight gains in relation to the dollar, losing five paisas for buying and selling at Rs 104.40 and Rs 104.60, they said. The rupee performed on the same pattern in terms of the euro, falling 20 paisas for buying and selling at Rs 118.10 and Rs 119.10, they added.
OVERSEAS OUTLOOK FOR DOLLARS: In the first Asian trade, the dollar hovered near a three-week low versus a basket of major currencies on Monday, anchored by doubts that the US Federal Reserve will raise interest rates by year-end. The dollar index, which measures the greenback's value against a basket of six major currencies, was last trading at 94.780. On Friday it had touched a low of 94.692, its weakest level since September 18.
In the second Asian trade, the yen benefited from a flight to safety as regional equities fell, while the dollar languished near three-week lows against a basket of currencies as expectations faded that the US Federal Reserve will raise interest rates this year.
Mixed Chinese trade figures released on Tuesday provided little relief. Exports fell less than expected, while imports sank more than predicted.
The dollar was available against the Indian rupee at Rs 65.01, the greenback was at 4.1805 in terms of the Malaysian ringgit and the US currency was available at 6.3353 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Tuesday: 77.80-77.80 (previous 77.80-77.80). 05.30-06.50 percent (Previous 05.30-06.50 percent).
In the third Asian trade, the US dollar wobbled near a 3 1/2-week low against a basket of currencies on Wednesday as further signs of weakness in China fanned expectations that the US Federal Reserve will have to wait longer before any policy tightening.
The Australian dollar slid further from two-month highs as a relief rally in various commodities and risk assets appeared to be running out of steam.
The dollar was trading against the Indian rupee at Rs 65.16, the greenback was at 4.1815 in terms of the Malaysian ringgit and the US currency was available at 6.346 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday: 77.80-77.80 (previous 77.80-77.80). 05.30-06.50 percent (Previous 05.30-06.50 percent).
In the fourth Asian trade, the dollar wallowed around seven-week lows against a basket of currencies in Asian trading, after weak US sales data prompted investors to scale back bets that the US Federal Reserve would hike interest rates by the end of 2015. The euro stood at $1.1479 after edging up as high as $1.1491 earlier, it's highest since August 26.
The dollar was trading against the Indian rupee at Rs 64.84, the greenback was at 4.1300 n terms of the Malaysian ringgit and the US currency was at 6.3424 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Thursday: 77.80-77.80 (previous 77.80-77.80). 05.30-06.50 percent (Previous 05.30-06.50 percent).
In the final Asian trade, the dollar was well supported on Friday after rebounding from 7-week lows thanks to stronger-than-expected US inflation data and after European Central Bank policy maker Ewald Nowotny raised expectations for further euro zone easing. The dollar index stood at 94.523 after bouncing from 93.806 touched overnight, it's lowest since late August. The dollar was available against the Indian rupee at Rs 64.97, the greenback was at 4.1820 in terms of the Malaysian ringgit and the US currency was at 6.356 versus the Chinese yuan.
At the weekend, the dollar rose broadly, as traders reckoned the Federal Reserve might raise interest rates later this year and the European Central Bank may provide more stimulus to help the euro zone economy.
The dollar index, which measures the greenback against six major currencies, climbed for the second day from a seven-week low after news that annual US core inflation picked up more than forecast in September to 2 percent.
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