The rupee managed to hold overnight levels against the dollar on the money market on Thursday in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee stayed put against the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectively, they said.
OPEN MARKET RATES: Similarly, on the open market, the rupee did not show any change in relation to the dollar for buying and selling at Rs 106.50 and Rs 106.70 respectively; however, it lost Rs 1.10 in terms of the euro for buying and selling at Rs 113.90 and Rs 115.40 respectively, they said.
In the fourth trade, the euro stood tall after Dutch election exit polls pointed to a comfortable win by the prime minister over his far-right rival, while the dollar wallowed at a one-month low after the Federal Reserve sounded less hawkish than anticipated on future rate rises.
The euro climbed to a five-week high of $1.0746 on Thursday, after surging 1.2 percent overnight.
The common currency was boosted as exit polls showed the Netherlands' centre-right Prime Minister Mark Rutte roundly saw off a challenge by anti-Islam, anti-EU Geert Wilders in an election on Wednesday, alleviating concerns towards Holland opting to leave the EU.
Besides, the US Federal Reserve raised interest rates on Wednesday for the second time in three months, a move spurred by steady economic growth, strong job gains and confidence that inflation is rising to the central bank's target.
The decision to lift the target overnight interest rate by 25 basis points to a range of 0.75 percent to 1.00 percent marked a convincing step in the Fed's effort to return monetary policy to a more normal footing.
The dollar was trading against the Indian rupee at Rs 65.370, the greenback was available at 4.435 in terms of the Malaysian ringgit and the US currency was at 6.891 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Thursday: 79.56-79.57 (previous 79.54-79.55).
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Open Bid Rs.106.50
Open Offer Rs.106.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.104.85
Offer Rate Rs.104.86
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RUPEE IN LAHORE: The Pak rupee showed strength as it recovered its day earlier losses against the US dollar in the local currency market on Thursday.
According to currency dealers, the US dollar commenced trading on a negative note and kept on declining throughout the trading session.
Consequently, it depreciated and ended at Rs 106.50 and Rs 106.90 on buying and selling sides, respectively, as compared to the overnight closing rates of Rs 106.70 and Rs 107.00 respectively, they added.
On the contrary, the local currency failed to keep upward trend as it depreciated versus the pound sterling.
The pound's buying and selling rates went up from Wednesday's closing rates of Rs 129.20 and Rs 130.00 to Rs 129.50 and Rs 130.50 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained strength against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 106 (buying) and Rs 106.50 (selling) against last rate of Rs 107.50 (buying) and Rs 107.60 (selling). It closed at the same rate of Rs 106 (buying) and Rs 106.50 (selling).
Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It closed at the same rate.
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