Firmness prevailed on the money market on Thursday as the rupee did not move any side against the dollar in the process of trading, dealers said. The rupee sustained overnight levels against the dollar for buying and selling at Rs 105.90 and Rs 106.10 respectively, they said. The rupee failed to hold overnight gains, shedding 40 paisas against the euro for buying and selling at Rs 118.80 and 119.80 respectively, they said.
OPEN MARKET RATES: The rupee sustained overnight levels versus the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectively, dealers said.
INTER-BANK MARKET RATES: In the fourth Asian trade, sterling held steady near a two-week high on Thursday, supported by expectations that Prime Minister Theresa May's party will win a majority in Britain's election, while the euro held steady ahead of a European Central Bank policy announcement.
The pound traded at $1.2960, staying near a peak of $1.2970 set on Wednesday, its highest level since May 25.
Opinion polls on Wednesday showed that May is on course to increase her majority in parliament in Thursday's election, suggesting her gamble to call the vote to strengthen her position in Brexit negotiations will pay off.
If the Conservative Party gains a decisive majority of more than 50 seats that would probably be seen as a positive outcome for sterling, Yeo said.
However, we still see much uncertainty surrounding the UK election, where a higher turnout vote of young people could potentially turn the tables on investors," she added.
The dollar was trading against the Indian rupee at Rs 64.350, the greenback was at 4.264 in terms of the Malaysian ringgit and the US currency was at 6.794 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 80.59-80.60 (previous 80.59-80.60).
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Open Bid Rs 105.90
Open Offer Rs 106.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs 104.85
Offer Rate Rs 104.86
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RUPEE IN LAHORE: The Pakistani rupee registered reduction versus the major currencies in the local currency market on Thursday.
The dollar commenced trading on a positive note following a slight change in buyers' interest during the day's trading session. As a result, it went up marginally by five-paisa at Rs 105.95 and Rs 106.10 on buying and selling sides, respectively, as compared to the overnight trend of Rs 105.90 and Rs 106.05 respectively, said the local currency dealers.
Likewise, the local currency also followed the same suit against the pound sterling. The pound's buying and selling rates rose from Wednesday's closing rates of Rs 136.15 and Rs 136.80 to Rs 136.60 and Rs 137.40 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 105.90 (buying) and Rs 106 (selling) against same last rate. It closed at the same rate.
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