The rupee could not sustain overnight firmness against the dollar on the money market on Thursday in the process of trading activity, dealers said. The rupee held the week-long levels versus the dollar for buying and selling at Rs 141.39 and Rs 141.40 respectively, they said.
In the fourth Asian trade, the euro nursed losses against the dollar on Thursday after dipping to a 22-month low on a surprise drop in a leading indicator for economic activity in Germany, amplifying worries of a growth slowdown in Europe's largest economy.
German business morale deteriorated in April, bucking expectations for a small improvement, a business index by the Munich-based Ifo economic institute showed on Wednesday, as trade tensions weighed on the German economy, leaving domestic demand to support slowing growth.
The greenback rallied to a 23-month high of 98.189 against a basket of key rivals overnight after gaining more than half a percent, largely propelled by the euro's weakness. The index last traded slightly lower at 98.096.
The dollar was trading against the Indian rupee at Rs 69.993, the greenback was at 4.134 in terms of the Malaysian ringgit and the US currency was available at 6.729 in relation to the Chinese yuan.
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Open Bid Rs.141.70
Open Offer Rs.142.20
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Bid Rate Rs.141.39
Offer Rate Rs.141.40
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Following lack of buyers' interest in the market, the US dollar shed 10 paisas and ended lower for buying and selling at Rs 141.70 and Rs 142.20 against the overnight closing rates of Rs 141.80 and Rs 142.30 respectively, local currency dealers said.
Moreover, the rupee gained 75 paisas versus the pound sterling and ended for buying at Rs 181.80 against the previous closing rate of Rs 182.55 whereas it firmly sustained its opening trend for selling at Rs 183.50, they added.
The dollar opened at Rs 141.70 (buying) and Rs 141.80 (selling) against last rate of Rs 141.80 (buying) and Rs 141.90 (selling). It closed at Rs 141.70 (buying) and Rs 141.80 (selling).
The buying and selling rates of one tola of gold was Rs. 70,000 (selling) and Rs 70,200 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.