THE RUPEE: Gives up gains
KARACHI: The rupee gave up overnight gains against the dollar on the money market on Thursday in the process of trading, dealers said.
They observed that during the announcement of Panamagate verdict, the national currency tumbled with modest fall due to slight increase in dollars' buying.
In the meantime, money experts said the rupee may come under pressure modestly in the coming days.
INTER-BANK MARKET RATES: The rupee showed marginal change versus the dollar for buying and selling at Rs 104.85 and Rs 104.86 respective, they said.
OPEN MARKET RATES: The rupee failed to sustain fresh gains, losing 10 paisas in terms of the dollar for buying and selling at Rs 106.00 and Rs 106.20 respective, they said.
The rupee also shed 30 paisas in relation to the euro for buying and selling at Rs 113.30 and Rs 114.90 respective, they said.
In the fourth Asian trade, the dollar caught its breath in Asian trading on Thursday, holding above lows hit earlier this week as investors awaited this weekend's first round of voting in France's presidential election.
The dollar index, which tracks the US currency against a basket of six major rivals, was slightly higher on the day at 99.752, moving away from a three-week low of 99.465 plumbed on Tuesday.
The euro edged up 0.1 percent to $1.07200, and was expected to tread water ahead of this weekend's vote.
Centrist Emmanuel Macron held on to his lead as favourite to emerge as the eventual victor, a closely watched poll showed, although it indicated that the outcome of the first round of voting on Sunday was too close to call.
Millions of French voters remain undecided, making this the least predictable vote in France in decades, and raising fears of a potential surprise result that could spread turmoil in markets.
The dollar was available against the Indian rupee at Rs 64.660, the greenback was at 4.400 in terms of the Malaysian ringgit and the US Currency was at 6.887 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 79.90-79.90 (previous 79.87-79.87).
Open Bid Rs.106.00
Open Offer Rs.106.20
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
Bid Rate Rs.104.85
Offer Rate Rs.104.86
RUPEE IN LAHORE: The Pak rupee registered reduction against the US dollar in the local currency market on Thursday.
The local currency dealers said that the US dollar resumed trading on a positive note amidst fresh buyers' interest in the market.
At the close, it rose to Rs 106.00 and Rs 106.35 on buying and selling sides, respectively, as compared to the overnight closing rates of Rs 105.80 and Rs 106.20 respectively, they added.
On the contrary, the national currency showed strength as it recovered its earlier losses versus the pound sterling.
The pound' buying and selling rates slid from Wednesday's closing rates of Rs 134.70 and Rs 135.70 to Rs 134.60 and Rs 135.50 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee was unchanged against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 106.25 (buying) and Rs 106.35 (selling) against. Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It closed at the same rate.
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