RECORDER REPORT
KARACHI: The rupee managed to hold firm trend against the dollar on the money market on Thursday, dealer said.
INTER-BANK MARKET RATES: The rupee did not move sharply against the dollar for buying and selling at Rs 104.80 and Rs 104.82 respectively, dealer said.
OPEN MARKET RATES: The rupee picked up five paisas in relation to the dollar for buying and selling at Rs 105.40 and Rs 105.65 respectively; however, it shed 10 paisas versus the euro for buying and selling at Rs 117.30 and Rs 118.30 respectively, they added.
In the fourth Asian trade, the yen surged, taking some of the wind out of the sails of the recently buoyant dollar and leaving investors scrambling to cover positions.
The dollar earlier had stuck close to its recent ranges, as investors looked ahead to a speech by Federal Reserve chief Janet Yellen on whether a rate increase is imminent and on a pending decision on a planned sales tax hike in Japan.
Then a sudden spike in the yen in relatively illiquid conditions triggered stop-loss orders and brought the Japanese currency as low as 109.42 from a session high of 110.235. It was last at 109.55.
The dollar was trading against the Indian rupee R 67.35, the greenback was at 4.0800 in relation to the Malaysian ringgit and the US currency was at 6.5565 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Thursday: 78.40-78.40 (previous 78.40-78.40).
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Open Bid Rs.105.40
Open Offer Rs.105.65
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.104.80
Offer Rate Rs.104.82
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RUPEE IN LAHORE: The Pak rupee appreciated against the greenback on the local currency markets on Thursday.
According to the currency dealers, the dollar remained under pressure throughout the day. At the close, the dollar ended lower at Rs 105.55 and Rs 105.90 as its buying and selling rates, respectively, as against overnight closing rate of Rs 105.65 and Rs 106.00, respectively.
On the other hand, the local currency remained under pressure and registered loss in relation to the British pound.
The pound's buying and selling rates further improved from Wednesday's closing of Rs 153.35 and Rs 154.35 to Rs 154.10 and Rs 154.90, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 10 paisas against the dollar at local currency establishments of Islamabad and Rawalpindi here on Thursday.
The dollar resumed trading at Rs 105.50 (buying) and Rs 106 (selling) against last rate of 105.60 (buying) and Rs 106.10 (selling). It did not observe further change in the last trading hours and closed at Rs 105.50 (buying) and Rs 106 (selling).
Pound Sterling opened at Rs 151.60 (buying) and Rs 152 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 151.60 (buying) and Rs 152 (selling).
