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  • Jun 22nd, 2018
  • Comments Off on THE RUPEE: minor changes after negative outlook
Little changes were witnessed on the local money market on Thursday following the Moody's negative rating, dealers said. The rupee shed two paisas in terms of the dollar for buying and selling at Rs 121.48 and Rs 121.52 respectively, they said.

INTER-BANK MARKET RATES: In the fourth Asian trade, the dollar hovered near an 11-month high against a basket of currencies on Thursday, supported by a rise in US yields, while the pound was at its lowest level since November 2017 ahead of a Bank of England monetary policy decision.

The dollar index against a group of six major currencies stood at 95.243 after rising to 95.299 overnight, its highest since mid-July 2017.

Buoying the greenback, long-term Treasury yields bounced back from three-week lows, as risk aversion felt earlier in the week amid United States-China trade tensions eased for now.

Treasury yields also were propped up by remarks from Federal Reserve Chairman Jerome Powell, who said on Wednesday that the US central bank should continue with a gradual pace of rate increases.

The dollar was available against the Indian rupee at Rs 68.210, the greenback was at 4.010 in terms of the Malaysian ringgit and the US currency was at 6.492 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Thursday: 83.70-83.70 (Previous 83.70-83.70).

OPEN MARKET RATES: The rupee showed no change in terms of the dollar for buying and selling at Rs 124.00 and Rs 124.50 respectively, they said.

The rupee maintained appreciation against the euro, picking up more Rs 1.25 for buying and selling at Rs 140.50 and Rs 142.50 respectively, they said.





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Open Bid Rs.124.00

Open Offer Rs.124.50

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.





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Bid Rate Rs.121.48

Offer Rate Rs.121.52

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RUPEE IN LAHORE: The rupee-dollar parity stayed unharmed amidst sluggish trend in the local currency market on Thursday.

According to currency dealers, the US dollar resumed trading on its overnight closing of Rs 124.00 and Rs 125.00 as its buying and selling rates, respectively. The dollar did not observe any change in its demand and supply situation as its opening rates prevailed till close of trading, they added.

Moreover, the local currency failed to sustain its earlier recoveries as it registered reduction versus the pound sterling. The pound's buying and selling rates slid from Wednesday's closing of Rs 160.75 and Rs 161.75 to Rs 160.50 and Rs 161.50 respectively, they said.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against Pak rupee at the open currency markets of Islamabad and Rawalpindi here on Thursday.

The dollar opened at Rs124 (buying) and Rs124.20 (selling) against same last rate. It closed at Rs124 (buying) and Rs124.20 (selling).

Copyright Business Recorder, 2018


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