RECORDER REPORT
KARACHI: After maintaining a stable trend for some time, the rupee again started showing it's vulnerability against the dollar on the currency market on Thursday in process of trading, money experts said.
Commenting on the local currency's performance versus the dollar, money experts said that the rupee is still moving at the present levels in terms of the dollar in the inter-bank market but the local currency failed to keep it's level versus the dollar in the open market because of strong demand.
INTER-BANK MARKET RATES: The rupee was almost unchanged against the dollar for buying and selling at Rs 115.61 and Rs 115.62, they said.
In the fourth Asian trade, the dollar was steady against a basket of its peers on Thursday, supported by higher long-term US Treasury yields on improving investor appetite for risk assets, though lingering concerns over US-China trade tensions checked the greenback.
The dollar index against a group of six major currencies was flat at 89.633 after edging up 0.1 percent on Wednesday.
The US currency gained 0.15 percent to 107.410 yen, adding to the previous day's modest gains.
Besides, investors trimmed their long positions in most emerging Asian currencies in the last two weeks, a Reuters poll showed, as the dollar bounced back amid improving appetite for riskier assets and upbeat US economic data.
The dollar was trading against the Indian rupee at Rs 65.760, the US currency was at 3.888 versus the Malaysian ringgit and the greenback was available at 6.266 in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Thursday: 82.98-82.98 (Previous 82.98-82.98).
OPEN MARKET RATES: The rupee depreciated by 50 paisas in relation to the dollar for buying and selling at Rs 117.20 and Rs 117.50, they said. The rupee also lost 60 paisas versus the euro for buying and selling at Rs 144.60 and Rs 146.10, they added.
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Open Bid Rs.117.20
Open Offer Rs.117.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.115.61
Offer Rate Rs.115.62
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RUPEE IN LAHORE: The Pak rupee registered reduction versus the major foreign currencies including the greenback and British pound in the local currency market on Thursday.
The short supply phenomenon of the greenback prevailed throughout the trading session for another day which helped its further appreciation for buying and selling at Rs 117.30 and Rs 117.50 as compared to the overnight closing trend of Rs 116.85 and Rs 117.15 respectively, local currency dealers said.
Likewise, the national currency also followed the same suit in terms of trading against the pound sterling. Consequently, the pound's buying and selling rates rose from Wednesday's closing of Rs 165.00 and Rs 166.00 to Rs 165.65 and Rs 166.40 respectively, 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 116.60 (buying) and Rs 116.70 (buying) against same overnight value. It closed at Rs 116.60 (buying) and Rs 116.70 (buying).
