RECORDER REPORT
KARACHI: The rupee managed to hold present levels against the dollar on the money market on Thursday in the process of trading, dealers said.
OPEN MARKET RATES: The rupee did not move any side against the dollar for buying and selling at Rs 105.90 and Rs 106.10, they said.
The rupee gained sharply in terms of the euro for buying and selling at Rs 118.00 and 119.00, they said.
INTER-BANK MARKET RATES: The rupee firmly held it’s present levels versus the dollar for buying and selling at Rs 104.87 and Rs 104.88, dealers said.
In the fourth Asian trade, the dollar nursed losses, after weak US inflation data left investors wondering if the Federal Reserve would be able to follow up its latest rate hike with another later this year.
On Wednesday, a prominent Republican was among those shot by a gunman said to be angry with Trump.
The dollar index, which tracks the US currency against a basket of six rivals, was slightly lower on the day at 96.915 though above its overnight low of 96.323 plumbed after downbeat economic figures.
The Fed raised interest rates a quarter percentage point to a target range of 1.00 percent to 1.25 percent, as expected, and gave its first clear outline on its plan to reduce its $4.2-trillion bond portfolio.
But the moves were overshadowed by inflation and retail sales data earlier in the day that fell short of market expectations. The core rate of inflation increased at just 1.7 percent on year, the fourth straight monthly deceleration and the slowest overall pace in two years.
The dollar was trading against the Indian rupee at Rs 64.280, the greenback was at 4.253 in terms of the Malaysian ringgit and the US currency was at 6.794 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Thursday .80.57-80.60 (previous 80.58-80.60).
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Open Bid Rs 105.90
Open Offer Rs 106.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs 104.87
Offer Rate Rs 104.88
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RUPEE IN LAHORE: The Pak rupee appreciated marginally by five-paisa in relation to the US dollar in the local currency market on Thursday.
According to currency dealers, the dollar witnessed fluctuation of five-paisa following slight changes in its demand and supply situation. At close of trading, it drifted at Rs 105.95 and Rs 106.15 on buying and selling side as compared to the overnight closing rates of Rs 106.00 and Rs 106.20 respectively, they added.
Moreover, the local currency recovered by 20-paisa on buying side while it stayed unchanged on selling side against the pound sterling. The British currency was bought and sold at Rs 134.30 and Rs 135.50 against Rs 134.50 and Rs 135.50 of Wednesday, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar was unchanged against the rupee at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 105.95 (buying) and Rs 106.10 (selling) against last rate of Rs 105.90 (buying) and Rs 106 (selling). It closed at Rs 105.95 (buying) and Rs 106.10 (selling).
Buying and selling rates of British Pound is Rs 136.50 (buying) and Rs 138.50 (selling).
