INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee gained 10 paisas further against the dollar for buying and selling at Rs 105.70 and Rs 105.90, they said. The rupee, however, dropped by 20 paisas in relation to the euro for buying and selling at Rs 115.00 and Rs 116.50, they said.
In the fourth Asian trade, the dollar hit a six-week high against the yen, after the US Federal Reserve downplayed weak first-quarter economic growth and was seen as leaving the door open to raising interest rates in June. The Fed kept interest rates unchanged on Wednesday while emphasising the strength of the labour market - a sign it was still on track for two more rate rises this year.
The central bank said consumer spending continued to be solid, business investment had firmed, and inflation has been "running close" to its target. The dollar rose to 112.89 yen earlier on Thursday, its strongest level in more than six weeks. It later pared those gains and last traded at 112.76 yen, little changed from late US trade on Wednesday.
The US currency benefited as the Fed kept the door "wide open" to a June rate hike, said Mitul Kotecha, head of Asia macro strategy for Barclays in Singapore.
The dollar was trading against the Indian rupee at Rs 64.205, the greenback was at 4.323 in terms of the Malaysian ringgit and the US currency was at 6.897 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday. 80.44-80.45 (previous 80.40-80.40).
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Open Bid Rs.105.70
Open Offer Rs.105.90
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.104.84
Offer Rate Rs.104.85
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RUPEE IN LAHORE: The Pak rupee recovered marginally on buying side while it stayed unchanged on selling side against the US dollar in the local currency market on Thursday.
The trading activity of the dollar resumed on its Wednesday's closing trend of Rs 105.80 and Rs 105.95 as its buying and selling rates, respectively. At the close, it lost by five-paisa on buying counter and ended at Rs 105.75. However, no change in its value took place on selling counter as it maintained its overnight trend of Rs 105.95, said the local currency dealers.
Moreover, the rupee showed strength as it recovered its earlier losses versus the pound sterling. The pound's buying and selling rates slid from the overnight closing trend of Rs 135.65 and Rs 136.30 to Rs 135.40 and Rs 136.10 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained strength against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday. The dollar opened at Rs 105.90 (buying) and Rs 106 (selling) against last rate of Rs 106 (buying) and Rs 106.10 (selling). It closed at Rs 105.90 (buying) and Rs 106 (selling). Pound Sterling opened at Rs 135 (buying) and Rs 135.50 (selling). It closed at the same rate.