BR RESEARCH
KARACHI: An easier trend persisted on the money market on Thursday as the rupee continued decline against the dollar in process of trading activity, marketmen said.
INTER-BANK MARKET RATES: The rupee lost about Rs 2.00 for buying and selling at Rs 164.00 and Rs 164.25, they said.
OPEN MARKET RATES: The rupee also shed 50 paisas in terms of the dollar for buying and selling at Rs 162.50 and Rs 163.50, they said. The rupee was down by Re.one in relation to the euro for buying at Rs 183.50 and it also fell by Rs 2 for selling Rs 186.50, they said.
In the fourth Asian trade, the dollar hovered near a one-week high against the yen on Thursday, propped up by hopes of Sino-US trade talk progress though investors were nonetheless cautious ahead of a meeting between leaders of the two powers in Japan in days ahead.
The greenback was little changed at 107.730 yen, having risen about 0.6% overnight to 107.850 yen, its highest since June 20. The US currency was supported by comments from US Treasury Secretary Steven Mnuchin that the trade deal between the United States and China is
The dollar index against a basket of six major currencies was a touch lower at 96.196 after rising modestly the previous day.
The index had retreated to a three-month low of 95.843 at the start of the week amid the Fed's easing prospects. But it has managed to regain some traction after comments this week from central bank officials such as Chair Jerome Powell that tapered aggressive rate cut expectations.
The dollar was trading against the Indian rupee at Rs 69.233, the greenback was at 4.150 versus the Malaysian ringgit and US currency was at 6.879 in relation to the Chinese yuan.
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Open Bid Rs.162.50
Open Offer Rs.163.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.164.00
Offer Rate Rs.164.25
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RUPEE IN LAHORE: The Pak rupee continued steep fall versus the major foreign currencies including the US dollar and the British pound in the local currency market on Thursday.
The short supply phenomenon of the US dollar prevailed for the second consecutive day in the market which helped its further significant appreciation for buying and selling at Rs 162.00 and Rs 163.50 against the overnight closing trend of Rs 161.10 and Rs 162.50 respectively, local currency dealers said.
Likewise, the rupee also followed the same suit for the third consecutive day against the pound sterling. The pound's buying and selling rates further improved from the Wednesday's closing of Rs 202.10 and Rs 204.00 to Rs 204.00 and Rs 206.00 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar maintained its upward journey against the Pak rupee at the local currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 164.50 (buying) and Rs 164.60 (selling) against last rate of Rs 162.50 (buying) and Rs 162.60 (selling). It closed at Rs 164.50 (buying) and Rs 164.60 (selling).
The buying and selling rates of one tola of gold was Rs 83,310 (selling) and Rs 83,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
