The rupee extended its overnight gains against the dollar on the money market on Thursday in the process of trading, marketmen said. The rupee moved cautiously, showing no change in relation to the dollar for buying and selling at Rs 121.54 and Rs 121.56 respectively, they said.
INTER-BANK MARKET RATES: In the fourth Asian trade, the dollar was steady against its peers on Thursday, having failed to extend overnight gains amid conflicting signals from Washington on a proposal to restrict Chinese investment as the bitter US-China trade row kept financial markets on edge.
Demand stoked by the looming end of 2018's first half was seen supporting the dollar, which was not dented by lower US yields and a slide in Wall Street shares.
The dollar index against a basket of six major currencies stood steady at 95.266 after rallying 0.65 percent the previous day. The greenback had advanced after US President Donald Trump said on Wednesday he will use a strengthened national security review process to thwart Chinese acquisitions of sensitive American technologies, a softer approach than imposing China-specific investment restrictions.
The dollar was available against the Indian rupee at Rs 68.913, the greenback was at 4.037 in terms of the Malaysian ringgit and the US currency was at 6.617 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 83.70-83.75 (Previous 83.70-83.70).
OPEN MARKET RATES: The rupee posted fresh gains of 30 paisas in terms of the dollar for buying and selling at Rs 123.50 and Rs 124.00 respectively, they said. The rupee also picked up more Rupee one against the euro for buying and selling at Rs 141.00 and Rs 143.00 respectively, they said.
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Open Bid Rs.123.50
Open Offer Rs.124.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.121.54
Offer Rate Rs.121.56
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RUPEE IN LAHORE: The Pak rupee continued to keep going up in terms of trading versus the major foreign currencies including the US dollar and British pound in the local currency market on Thursday.
The US dollar resumed trading on a negative note and maintained declining trend for another day amidst lack of buyers' interest in the market. Resultantly, it further ended lower for buying and selling at Rs 123.25 and Rs 124.20 as compared to the overnight closing rates of Rs 123.40 and Rs 124.40 respectively, local currency dealers said.
Versus the pound sterling, the national currency also followed the same suit in process of trading. The pound's buying and selling rates further slipped from Wednesday's closing of Rs 160.70 and Rs 162.20 to Rs 159.55 and Rs 160.80 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 25 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs123.75 (buying) and Rs123.85 (selling) against last rate of Rs124 (buying) and Rs124.10 (selling). It closed at Rs123.75 (buying) and Rs123.85 (selling).
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