In the interbank market, rupee gained 64 paisa against the US dollar, posting a buying rate of 97.5. The national currency also edged up 63 paisa, selling at 97.55, currency dealers said.
The rupee also appreciated in the open market against the US currency, gaining Rs1.2 on buying and selling counters, settling at 97.9 and 98.1, respectively, the dealers said.
The rupee rose by 90 paisa against euro, posting a buying and selling rate of 128.6 and 129.6, respectively.
Economists said that the last meeting's agenda was how the rupee could resist sharp erosion versus the dollar. Participants, they said, discussed factors affecting devaluation, including speculative buying. The market, they said, experienced a shortage of dollar owing to capital flight from the country. Outflows touched $2.5 billion, sold by unlicensed money changers, sources said.
In fact, some banks and unlicensed money changers "are playing a negative role in the currency business", Chairman of the Exchange Companies Association of Pakistan (ECAP) Malik Bostan said.
The government, he said, should take steps to ensure a comfortable supply of dollars. "This is possible, but a line of action is still awaited," he said.
Other analysts said that to ward off mismanagement in the banking sector and currency trade, the central bank should set up a monitoring team.
Other factors, particularly prevailing instability on political and economic fronts, also fuelled the weakness of the rupee, money experts said.
In the first session, the rupee nearly hit the 100 per dollar mark, after crossing the record low level of 99.7 in the open market.
INTER-BANK MARKET RATES: On Monday, the rupee dropped by 49 paisa against the dollar, with a buying price of 98.14. It also shed 48 paisa on the selling counter, ending at 98.18.
On Tuesday, the rupee recovered 19 paisa against the dollar on the buying front, settling at 97.95. The local currency also rose by 18 paisa, selling at 98.
On Wednesday, the rupee picked up 25 paisa against the dollar, buying and selling at 97.7 and 97.75, respectively.
On Thursday, the rupee maintained its upward trend against the dollar, picking up more 33 paisa, buying and selling at 97.37 and 97.42, respectively.
On Friday, the rupee could not retain its firmness against the dollar and lost 13 paisa, buying and selling at 97.5 and 97.55, respectively.
OPEN MARKET RATES: On December 17, the rupee adopted the same path after it lost 60 paisa against the dollar, buying and selling at 99 and 99.2, respectively. The rupee also shed 40 paisa versus the euro, buying and selling at Rs129.3 and Rs130.3.
On December 18, the rupee also gained 50 paisa against the dollar, buying and selling at 98.5 and 98.7, respectively. The rupee also picked up 10 paisa versus the euro, buying and selling at Rs129.2 and Rs130.2, respectively.
On December 19, the rupee held overnight levels versus the dollar, buying and selling at 98.5 and 98.7, respectively.
The rupee, however, lost 60 paisa against the euro, buying and selling at Rs129.8 and Rs130.8, respectively.
On December 20, the rupee also gained 60 paisa versus dollar, buying and selling at 97.9 and 98.1, respectively.
The rupee appreciated by 80 paisa versus the euro, buying and selling at Rs129 and Rs130, respectively.
On December 21, the rupee, however, gained 10 paisa in relation to the dollar, buying and selling at 97.8 and 98, respectively. The rupee also picked up 40 paisa versus the euro, buying and selling at Rs128.6 and Rs129.6, respectively.
On December 22, the rupee dropped marginally against the dollar, losing 10 paisa, buying and selling at 97.9 and 98.1, respectively. The rupee also shed 10 paisa versus the euro, buying and selling at Rs128.5 and Rs129.5, respectively.
WORLD VALUE OF DOLLAR: In the first Asian trade, the yen slumped to its lowest in over a year-and-a-half against the US dollar on Monday as part of a broad skid after Japan's conservative Liberal Democratic Party won a landslide victory.
In the second Asian trade, the yen edged lower and neared a 20-month low versus the dollar, dogged by expectations that a new Japanese government would nudge the Bank of Japan toward more drastic monetary stimulus.
Inter bank buy/sell rates for the taka against the dollar on Tuesday: 80.20-80.25 (previous 80.25-80.36). Call Money Rates: 10.50-11.00 percent (previous 7.00-11.50 percent). Indian rupee was trading against the dollar, buying and selling at Rs54.85 and Rs54.86, respectively.
In the third Asian trade, the yen hit a 16-month low against the euro, weighed down by expectations the Bank of Japan will unveil more monetary stimulus on Thursday, after a two-day policy meeting.
The euro hit its strongest level against the yen since August 2011 and also touched a 7-1/2-month high versus the dollar, as tentative signs of progress in US budget talks helped bolster demand for riskier assets.
The dollar was trading against the Indian rupee 54.73, the greenback was at 3.0525 in terms of the Malaysian ringgit and the greenback was at 6.2300 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday. 80.10-80.13 (previous 80.20-80.25). Call Money Rates: 12.00-12.00 percent (previous 7.00-12.00 percent).
In the third Asian trade, the yen firmed after the Bank of Japan eased monetary policy.
With expectations matched, traders took profits on their bets against the yen, with the end-year holiday period approaching, and the dollar fell 0.45 percent on the day to 84.00 yen. The dollar was trading against the Indian rupee at Rs54.85 and the US currency was available at 6.2305 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Thursday: 80.00-80.01 (previous 80.10-80.13). Call Money Rates: 11.00-12.00 percent (previous 7.00-12.00 percent).
In the final Asian trade, the euro fell against the dollar on Friday as Republican House Speaker John Boehner abandoned his bill to avoid the 'fiscal cliff'.
The dollar was trading against the Indian rupee at Rs55.17, versus the Malaysian ringgit, the greenback was at 3.0610 and the US currency was trading in terms of the Chinese yuan at 6.229.
At the week-end, the dollar firmed after US budget negotiations to avert spending cuts and tax increases took a turn for the worse, fuelling concerns the world's largest economy could slide into recession.