INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee sustained its overnight levels in terms of the dollar for buying and selling at Rs 105.90 and Rs 106.10 respectively, they said. The rupee gained 25 paisas in relation to the euro for buying and selling at Rs 114.50 and Rs 116.00 respectively, they said.
In the fourth Asian trade, the dollar held gains against the yen after US President Donald Trump's tax plan offered no fresh surprises, slowing the greenback's rally, while the market awaited the European Central Bank's upcoming monetary policy decision.
The Canadian dollar and Mexican peso, which had slumped earlier on reports the United States is considering withdrawing from the North American Free Trade Agreement (NAFTA), bounced sharply after Trump said he would not scrap the pact but renegotiate instead.
Against the Japanese yen, the dollar had surged to a four-week high of 111.780 overnight before the unveiling of Trump's tax reform plan, but it lost traction as it failed to excite investors. The dollar was last up 0.15 percent at 111.220 yen.
The yen showed little reaction to the Bank of Japan's decision on Thursday to keep monetary policy steady as the outcome was well anticipated. Trump's plan would cut the income tax rate paid by public corporations to 15 percent from 35 percent and reduce the top tax rate assessed on pass-through businesses, including small partnerships and sole proprietorships, to 15 percent from 39.6 percent.
The dollar was trading against the Indian rupee at Rs 64.090, the US currency was at 4.343 in terms of the Malaysian ringgit and the US currency was at 66.896 versus the Chinese yuan Interbank buy/sell rates for the taka against the dollar on Thursday: 80.23-80.23 (previous 80.13-80.13).
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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.104.79
Offer Rate Rs.104.81
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RUPEE IN LAHORE: The Pak rupee stayed unchanged on buying side while it depreciated on selling side against the greenback in the local currency market on Thursday.
The greenback resumed trading on its overnight closing trend of Rs 105.80 and Rs 106.10 as its buying and selling rates, respectively. At the close, no change in its value took place as it maintained its overnight trend of Rs 105.80 on buying counter.
However, it appreciated by 10-paisa and ended at Rs 106.20 on selling counter, said the local currency dealers.
Furthermore, the rupee failed to hold its strength as it registered reduction versus the pound sterling. The pound's buying and selling rates rose from Wednesday's closing rates of Rs 134.60 and Rs 135.50 to Rs 135.30 and Rs 136.10 respectively, they said.