Rupee-dollar parity rates moved both ways on the currency market on Thursday in the process of trading, dealers said. The rupee gave up overnight firmness versus the dollar, shedding eight paisa for buying at Rs 101.88 and it also fell by five paisa for selling at Rs 101.90, dealers said.
In the forth Asian trade, the US dollar wallowed near six-week lows against a basket of major currencies after the Federal Reserve gave no fresh hints that it was preparing to scale back stimulus at its next meeting in September.
The Fed said it would keep buying $85 billion in mortgage and Treasury securities per month and noted the potential dangers of inflation running too low, while calling the pace of economic growth "modest" rather than "moderate", as it had consistently for most of the past year. The dollar was trading against the Indian rupee at Rs 60.66, the greenback was at 3.2395 in terms of the Malaysian ringgit and the US currency was available at 6.1305 against the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Thursday: 77.75-77.75 (77.77-77.77). Call Money Rates: 07.00-07.50 percent (previous 07.00-08.00 percent).
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Open Bid Rs 101.88
Open Offer Rs 101.90
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Bid Rate Rs 101.90
Offer Rate Rs 102.10
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According to the currency dealers, the dollar was opened on a depressed note and remained under pressure in the absence of buying support.
The dollar was ended lower at Rs 102.20 and Rs 102.80 as its buying and selling rates against the overnight closing of Rs 102.70 and Rs 103.10, respectively.
Similarly, the Pak rupee was further appreciated against the British pound. The pound's buying and selling rates were decreased from Rs 154.00 and Rs 155.20 to Rs 153.20 and Rs 154.30, respectively, the dealers said.
The dollar opened at Rs 103 for buying and Rs 103.25 for selling against last rate. It did not observe further change in the second session and closed at Rs 103 for buying and Rs 103.25 for selling.
Pound Sterling opened at Rs 155 for buying and Rs 155.50 for selling against same last rate. It closed at the same rate without further change by the end of evening session.