KARACHI: A kind of firmness prevailed on the money market on Thursday as the rupee moved up against the dollar ahead of budget 2015-16, they said. The rupee firmly held the overnight level in relation to the dollar for buying and selling at Rs 101.87 and Rs 101.89 respectively, they said.
In the fourth Asian trade, the euro's rally against the dollar took a breather but it touched a fresh five-month high against the yen, after the head of the European Central Bank played down the impact of higher market rates and triggered a spike in German yields.
Cautious optimism that cash-strapped Greece was not about to default on its debt also helped the common currency. The greenback was available against the Indian rupee at Rs 64.17, the US currency was at 3.7040 in relation to the Malaysian ringgit and the dollar at 6.2008 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 05.25-6.75 percent (Previous 05.25-06.75 percent).
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Open Bid Rs 102.70
Open Offer Rs.102.90
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Bid Rate Rs.101.87
Offer Rate Rs.101.89
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In the absence of any activity, the greenback lost its worth and closed at 102.70 and Rs 103.45 on buying and selling counters, respectively, but some dealers failed to quote the selling rate of the dollar following its non-availability. The British pound appreciated its worth against the local currency which was purchased and sold at Rs 157.50 and Rs 158.50 against Rs 156.80 and Rs 157.80 of Wednesday.
The dollar opened at Rs 101.75 (buying) and Rs 101.85 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 101.75 (buying) and Rs 101.85 (selling).
Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 155 (buying) and Rs 155.50 (selling).