The rupee managed to keep almost present levels against the dollar on the money market on Thursday, dealers said. The rupee was trading versus the dollar for buying and selling at Rs 105.39 and Rs 105.40 respectively, dealers said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee also did not show any change against the dollar for buying and selling at Rs 107.30 and Rs 107.50 respectively, they said. The rupee was trading in relation to euro for buying and selling at Rs 124.80 and Rs 124.80 respectively, they said.
In the fourth Asian trade, the dollar licked its wounds at 13-month lows against a basket of major currencies on Thursday after the U.S. Federal Reserve's more cautious wording on the inflation outlook bolstered views it might not hike interest rates again this year.
While the Fed said it expected to start shrinking its massive holdings of bonds "relatively soon", a phrase taken by many to mean an announcement in September, the central bank also noted weakness in US inflation more explicitly than before.
The dollar was trading against the Indian rupee at Rs 64.138, the US currency was available at 4.274 versus the Malaysian ringgit and the greenback was at 6.728 in terms of the Chinese yuan.
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Open Bid Rs.107.30
Open Offer Rs.107.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.105.39
Offer Rate Rs.105.40
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RUPEE IN LAHORE: The Pak rupee appreciated on buying side while it stayed unchanged on selling side against the US dollar in the local currency market on Thursday.
According to the currency dealers, the dollar commenced trading on its overnight trend of Rs 107.40 and Rs 107.50 as its buying and selling rates respectively. At the close, it gained by 10-paisa on buying counter and ended at Rs 107.30. However, it did not witness any change on selling counter as it maintained its opening trend of Rs 107.50, they added.
However, the local currency failed to sustain as it depreciated versus the pound sterling. The pound's buying and selling rates drifted from Wednesday's closing rates of Rs 139.00 and Rs 139.40 to Rs 139.80 and Rs 140.40 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained strength against the rupee at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 107 (buying) and Rs 107.10 (selling) against last rate of Rs 106.40 (buying) and Rs 106.50 (selling). It closed at Rs 107 (buying) and Rs 107.10 (selling).
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