RECORDER REPORT
KARACHI: The rupee depicted slight fluctuations against the dollar on the money market on Thursday in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee fluctuated slightly in relation to the dollar for buying and selling at Rs 110.53 and Rs 110.54 respectively, they said.
In fourth Asian trade, the dollar edged up on Thursday after upbeat US data and supportive minutes from the Federal Reserve's latest policy meeting helped it shake off recent weakness.
The dollar index, measuring it against a basket of six major currencies, extended the previous day's bounce to stand 0.02 percent higher at 92.183 It had declined to 91.751 on Tuesday, its lowest since Sept. 20.
The dollar bounced after Wednesday's strong US manufacturing and construction data. It gained further support as the minutes from the Fed's Dec. 12-13 meeting were more hawkish than anticipated, indicating the central bank is still poised to raise interest rates several times this year.
Fed policymakers acknowledged the US labour market's solid gains and the expansion in economic activity, even as they affirmed worries about persistently low inflation.
That suggested the central bank will continue to pursue a gradual approach in raising rates but could hasten the pace if inflation accelerates.
The dollar was trading against the Indian rupee at Rs 63.510, the greenback was at 4.017 in terms of the Malaysian ringgit and the US currency was available at 6.507 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 82.72-82.75 (Previous 82.70-82.70).
OPEN MARKET RATES: The rupee picked up 10 paisas in terms of the dollar for buying and selling at Rs 111.10 and Rs 111.40 respectively, they said.
The rupee also shed 20 paisas versus the euro for buying and selling at Rs 132.40 and Rs 134.40 respectively, they added.
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Open Bid Rs.111.10
Open Offer Rs.111.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.110.53
Offer Rate Rs.110.54
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RUPEE IN LAHORE: The Pak rupee failed to sustain its overnight levels as it registered reduction versus the American dollar in the local currency market on Thursday.
According to currency dealers, the short supply phenomenon of the US dollar continued to prevail in the currency market which helped its appreciation at Rs 111.25 and Rs 111.70 for buying and selling, respectively, as compared to the overnight levels of Rs 110.80 and Rs 111.50 respectively.
Furthermore, the rupee stayed firmed against the pound sterling for buying at Rs 148.50.
However, it lost 60 paisas for selling and ended at Rs 149.20, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 110.65 (buying) and Rs 110.75 (selling) against same last week's rate. It closed at Rs 110.65 (buying) and Rs 110.75 (selling).
