Declining trend persisted on the money market on Thursday in the process of trading, dealers said. The rupee lost 10 paisas against the dollar for buying and selling at Rs 105.33 and Rs 105.35, dealers said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee also shed eight paisas versus the dollar for buying and selling at Rs 107.10 and Rs 107.30 respectively, they said. The rupee did not fluctuate sharply in terms of the euro for buying and selling at Rs 122.30 and 123.30 respectively, they said.
In the fourth Asian trade, the euro held near a 14-month high against the dollar on Thursday as investors look to hints from the European Central Bank on tapering of its stimulus, while the yen barely budged after the Bank of Japan kept monetary policy on hold.
The ECB is expected to lay the groundwork for an autumn policy shift when it meets on Thursday, emphasising improved growth while trying to temper expectations after previously setting off a mini-tantrum in financial markets.
ECB President Mario Draghi opened the door to policy tweaks in a speech in Sintra, Portugal, in late June, leading to expectations that the ECB is ready to announce cuts in its asset purchasing programme.
The euro is now at $1.1515, backing off a tad from Tuesday's $1.1583, its highest level since May 2016 but still maintaining gains of 3.0 percent since Draghi's Sintra speech.
The dollar was trading against the Indian rupee at Rs 64.380, the greenback was at 4.288 in terms of the Malaysian ringgit and the US currency was available at 6.765 versus the Chinese yuan.
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Open Bid Rs.107.10
Open Offer Rs.107.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.105.33
Offer Rate Rs.105.35
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RUPEE IN LAHORE: The Pakistani rupee appreciated on buying side while it stayed unchanged on selling side against the US dollar in the local currency market on Thursday.
The dollar resumed trading on its overnight closing trend of Rs 107.20 and Rs 107.40 as its buying and selling rates respectively.
At the close, it gained by 10-paisa on buying counter and ended at Rs 107.10. However, no change in its value took place on selling counter as it sustained its opening rate of Rs 107.40, local currency dealers said.
Furthermore, the local currency showed strength as it recovered its day earlier losses versus the pound sterling.
The pound's buying and selling rates slid from Wednesday's closing rates of Rs 138.30 and Rs 139.20 to Rs 138.00 and Rs 138.80 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 106.40 (buying) and Rs 106.50 (selling) against same last rate. It closed at Rs 106.40 (buying) and Rs 10650 (selling).
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