RECORDER REPORT
KARACHI: The rupee managed to recover more appreciation in terms of the dollar on the money market on Thursday in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee was unmoved in relation to the dollar for buying and selling at Rs 115.61 and Rs 115.62 respectively, they said.
In the fourth Asian trade, the dollar held firm on Thursday after the 10-year US bond yield popped above the psychologically important 3 percent mark and investors looked to US consumer price data later in the day that could show acceleration in inflation.
The dollar index stood little changed against a basket of six major currencies at 93.02 after hitting a 4-1/2-month high of 93.42, extending its gains from its April low to 4.7 percent.
"Rises in US interest rates are pushing the dollar higher," said Ayako Sera, market economist at Sumitomo Mitsui Trust Bank, noting that investor sentiment is stronger now than in February when worries about higher rates hit stock prices.
The dollar war available in relation to the dollar at 67.390 and the greenback was trading at 6.365 against the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 83.10-83.10 (Previous 83.10-83.10).
OPEN MARKET RATES: The rupee rose by 20 paisas in relation to the greenback for buying and selling at Rs 117.50 and Rs 118.00 respectively, they said. The rupee posted fresh gains of 55 paisas versus the euro for buying and selling at Rs 138.85 and Rs 140.20 respectively, they added.
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Open Bid Rs.117.50
Open Offer Rs.118.00
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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 maintained upward trend for the second consecutive day against the US dollar in the local currency market on Thursday.
According to currency dealers, the dollar resumed on a depressed note and remained under pressure for another day amidst lack of buyers' interest in the market. Consequently, it further ended lower for buying and selling at Rs 117.10 and Rs 117.80 as compared to the overnight closing rates of Rs 117.50 and Rs 118.30 respectively, they added.
However, the local currency showed strength as it recovered its earlier losses against the British pound. The pound's buying and selling rates slid from Wednesday's closing of Rs 159.00 and Rs 160.00 to Rs 157.70 and Rs 159.10 respectively, they said.
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 118 (buying) and Rs 118.50 (selling) against same last rate. It closed at Rs 118 (buying) and Rs 118.50 (selling).
