In the open market, the rupee picked up 30 paisa in relation the dollar for buying and selling at Rs 106.30 and Rs 106.50. The rupee also picked up Rs 2.00 in terms of the euro for buying and selling at Rs 114.30 and Rs 115.30.
Some money experts said that rupee got strength on intervention by the State Bank of Pakistan (SBP) to give the local currency boost.
The appreciation proved short-lived in the open market as the rupee almost gave up its gain, in the meantime, the rupee is trading at Rs 104.25 and Rs 104.30, depicting a big gap between the open and interbank market rates.
The experts surprised over the move because when the exports are on decline, this factor may cause further slide. The factor may create jitters among the exporters, they observed. Besides, country's remittances from overseas Pakistanis came down nearly 17.5 percent during the first five months of the currency fiscal year. Reserves, however, increased to 20.45 billion dollars.
INTERBANK MARKET RATES: On Monday, the rupee picked up 48 paisa in relation to the dollar for buying and selling at Rs 104.90 and Rs 104.95. On Tuesday, the rupee gained about Rs 105 versus the greenback for buying and selling at Rs 103.85 and Rs 103.90. On Wednesday, the rupee picked up three paisa against the dollar for buying at Rs 103.82 and it also gained 10 paisa for selling at Rs 103.85. On Thursday, the rupee lost 23 paisa against the dollar for buying and selling at Rs 104.05 and Rs 104.10. On Friday, the rupee lost 20 paisa against the dollar for buying and selling at Rs 104.25 and Rs 104.30.
OPEN MARKET RATES: On December 07, the rupee also rose by 50 paisa versus the dollar for buying at Rs 106.30 and it also picked up 60 paisa for selling at Rs 106.50. The rupee also picked up 90 paisa in terms of the euro for buying and selling at Rs 114.30 and Rs 115.30. On December 08, the rupee followed the same print in the open market, picking up approximately Re.one in terms of the dollar for buying and selling at Rs 105.30 and Rs 105.60. The rupee also picked up 90 paisa in terms of the euro for buying and selling at Rs 114.30 and Rs 115.30.
On December 09, the rupee appreciated by 30 paisa in terms of the dollar for buying and selling at Rs 105.00 and Rs 105.30, they added. The rupee also picked up five paisa in terms of the euro for buying at Rs 114.25, it, however, shed 20 paisa for selling at Rs 115.50.
On December 10, the national currency also drifted lower versus the dollar for buying and selling at Rs 105.60 and Rs 105.90, they added. The rupee also fell sharply in terms of the euro, losing Re.one for buying and selling at Rs 115.25 and Rs 116.50, they added.
On December 11, the national currency also shed 40 paisa versus the dollar for buying and selling at Rs 106.00 and Rs 106.30. The rupee also fell sharply in terms of the euro, losing 75 paisa for buying at Rs 116.00 and selling and Rs 117.00.
On December 12, the rupee did not move any side against the dollar for buying at Rs 106.00 while it gained five paisa for selling at Rs 106.25. The rupee, however, lost 30 paisa in terms of the euro for buying at Rs 116.30 and selling and Rs 117.30.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the dollar steadied, having recovered a bit of ground late last week after upbeat payrolls data bolstered the case for an imminent hike in US interest rates. But the greenback's reaction was modest with a Fed hike at the December 15-16 meeting already considered highly likely.
The dollar was available against the Indian rupee at Rs 66.62, the US currency was at 4.2040 in terms of the Malaysian ringgit and the greenback was at 6.4073 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday. 78.94-78.95 (previous 78.95-78.95).
In the second Asian trade, the US dollar held firm against commodity currencies and hovered near decade-highs against its Canadian peer, which has come under renewed pressure this week due to tumbling global oil prices.
Commodity currencies also remained on the defensive after Chinese trade data for November did little to soothe concerns about China's economic slowdown.
The greenback edged up 0.1 percent against the Canadian dollar to C$1.3514, trading near Monday's 11-year high of C$1.3524, the strongest level for the US dollar since mid-2004.
The dollar was trading against the Indian rupee at Rs 66.75, the US currency was at 4.2600 in terms of Malaysian ringgit and the greenback was at 4.2150 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday. 78.94-78.95 (previous 78.94-78.95).
In the third Asian trade, the currencies of major commodity producers such as Australia and Canada steadied on Wednesday, letting them nurse big losses suffered the past two days from a sell-off in oil and bulk commodities.
Most of the action this week has been confined to commodity currencies after OPEC members failed on Friday to agree on an oil production ceiling, triggering a renewed sell-off in oil.
The euro last traded at $1.0901, up 0.1 percent on the day, having pulled up from Tuesday's low around $1.0830.
The US currency was trading against the Indian rupee at Rs 66.75, the dollar was available against the Malaysian ringgit at 4.2610 and the greenback was at 6.4237 in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday. 78.94-78.95 (previous 78.94-78.95).
In the forth Asian trade, the euro held on to solid gains and stayed above the $1.10 big figure after comments from a central banker suggested markets had been expecting too much stimulus from the European Central Bank.
The common currency last stood at $1.1021, having scaled a one-month peak of $1.1044. The move extended last week's 2.8 percent short-covering rally after the ECB fell well short of delivering the aggressive easing that markets expected.
Responding to accusations of miscommunication, Governing Council member Ewald Nowotny on Wednesday said it was market analysts that failed to assess properly signals the ECB was sending and they should have paid more attention to economic fundamentals.
The dollar was trading against the Indian rupee at Rs 66.81, the greenback was at 4.2600 in terms of the Malaysian ringgit and the US currency was at 6.4388 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday. 78.90-78.95 (previous 78.94-78.95).
In the final Asian trade, the euro the dollar steadied, given some breathing space after a recent surge by the euro lost momentum in wake of dovish comments by a policymaker, while profit-taking trimmed some of the Australian dollar's big gains made on an unusually strong domestic jobs report.
The dollar was travelling against the Indian rupee at Rs 66.79, the greenback was at 4.2800 versus the Malaysian ringgit and the US currency was at 6.4509 in relation to the Chinese yuan.
At the week-end, the dollar fell against a basket of currencies as a sell-off on Wall Street and slumping commodity prices overshadowed solid data on US retail sales data and consumer sentiment which may encourage the Federal Reserve to hike interest rates next week. The greenback initially rose on a November rise in retail sales before turning negative on the view the modest growth in stores spending was not strong enough to support further monetary tightening beyond next week.