INTER-BANK MARKET: OPEN MARKET RATES: The rupee moved slightly versus the dollar for buying and selling at Rs 139.50 and Rs 139.80. The rupee gained about 25 paisas against the euro for buying and selling at Rs 157.50 and Rs 159.25. Commenting on the rupee's performance versus the dollar, governor of the State Bank of Pakistan (SBP), Tariq Bajwa expecting that the national currency will be stabilised once money flows into the economy. Under the circumstance, it looks that dollars' supply is not matching with the demand, marketmen said and adding that if dollars' supply improves, the rupee will keep firm trend in the coming days.
INTER-BANK MARKET RATES: On Monday, the rupee slipped marginally in relation to the dollar for buying and selling at Rs 138.92 and Rs 138.94. On Tuesday, the rupee fell slightly in relation to the dollar for buying and selling at Rs 138.94 and Rs 138.95. On Wednesday, the rupee did not move any side in relation to the dollar for buying and selling at Rs 138.94 and Rs 138.95 respectively, they said. On Thursday, the rupee stayed put in relation to the dollar for buying and selling at Rs 138.94 and Rs 138.95. On Friday, the rupee was almost unchanged in relation to the dollar for buying and selling at Rs 138.94 and Rs 138.95.
OPEN MARKET RATES: On December 17, the rupee picked up 10 paisas in terms of the dollar for buying at Rs 139.60 while it also gained 20 paisas for selling at Rs 140.00. The rupee, however, fell by 50 paisas versus the euro for buying and selling at Rs 157.70 and Rs 159.50. On December 18, the rupee gained 20 paisas in terms of the dollar for buying at Rs 139.40 while it also rose by 30 paisas for selling at Rs 139.70. The rupee, however, dropped 30 paisas versus the euro for buying at Rs 158.00 while it did not show any change for selling at Rs 159.50.
On December 19, the rupee followed same patterns in terms of the dollar for buying and selling at Rs 139.40 and Rs 139.70, while the rupee lost 50 paisas versus the euro for buying at Rs 158.00 and selling at Rs 159.50. On December 20, the rupee failed to keep overnight levels in terms of the dollar, losing 60 paisas for buying at Rs 140.00 and national currency also dropped 70 paisas for selling Rs 140.40, they said. While, the rupee lost 50 lost sharply against the euro for buying at Rs 159.25 and selling at Rs 161.00, they said.
On December 21, the rupee gained 40 paisas in terms of the dollar for buying and selling at Rs 139.60 and Rs 140.00. While, the rupee also rose by 45 paisas against the euro for buying at Rs 158.75 and Rs 160.55. On December 22, the rupee picked up 10 paisas in terms of the dollar for buying at Rs 139.50 and the local currency rose by 20 paisas for selling at Rs 139.80. The rupee also gained sharply against the euro for buying and selling at Rs 157.50 and Rs 159.25.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the dollar held near a 19-month high on Monday, bolstered by safe-haven buying as heightened concerns of a global economic slowdown reduced appetites for riskier assets such as stocks and Asian currencies.
Weaker-than-expected economic data from China and Europe and fears of a possible US government shutdown spooked investors away from stocks toward the greenback and yen. "The dollar index, which gauges its value versus six major peers, was little changed at 97.44, below the 19-month high of 97.71 it hit on Friday.
In the second Asian trade, the dollar was fragile in Asian trade on Tuesday as markets speculated growth worries will prompt the Federal Reserve to signal a pause to its monetary tightening cycle at this week's meeting.
Asian equities were hit hard after a rout on Wall Street overnight following a drum roll of weak data globally, reinforcing bets the Fed's widely expected rate hike on Wednesday would usher in a slowdown, or even a pause, to three years of steady rate increases.
Senior Fed officials, including Fed Chairman Jerome Powell, have recently become more cautious about the policy outlook that underlined a shift in market sentiment from a few months ago on rising signs of a slackening in the global economy. The dollar index was marginally lower at 97.08 after losing 0.4 percent on Monday.
The dollar was trading against the Indian rupee at Rs 71.255, the greenback was at 4.175 in terms of the Malaysian ringgit and the US currency was available at 6.893 versus the Chinese yuan.
In third Asian trade, the dollar languished close to one-week lows on Wednesday as investors wagered the Federal Reserve would slow the pace of US monetary tightening after its keenly-watched policy meeting later in the day.
In Asia, markets are looking to China's three day Central Economic Working Conference (CEWC) meeting that starts on Wednesday for Beijing's growth and reform objectives. A steady downturn in China's economy this year has been one of the key drivers of asset markets, including currencies, over recent months.
The dollar index was down 0.2 percent at 96.9, extending losses into the second day. The dollar was trading against the Indian rupee at Rs 70.075, the greenback was at 4.178 in terms of the Malaysian ringgit and the US currency was at 6.890 versus the Chinese yuan.
In the fourth Asian trade, the dollar was steady in Asian trade on Thursday, and was off its overnight lows after the Federal Reserve rowed back from a more aggressive policy tightening path even as it gave markets the impression of being much less cautious than they had anticipated.
In a widely anticipated decision, the US central bank hiked interest rates by 25 basis points and forecast fewer rate increases next year than it had at its September policy meeting.
The dollar index was a touch higher at 96.99 in early Asian trade, managing to recover from an overnight low of 96.55 and the New York close of 96.97 as markets came to terms with the Fed's outlook.
The dollar was available versus the Indian rupee at Rs 70.540, the greenback was at 4.183 in terms of the Malaysian ringgit and the US currency was at 6.909 in relation to the Chinese yuan.
In the final Asian trade, the dollar hovered near a one-month low against its peers, weighed down by a subdued outlook towards US interest rates and the economy, while risk aversion in the broader markets boosted the yen.
The dollar index against a basket of six major currencies stood near 96.30 after falling to 96.168 overnight, its lowest since November 20. The index has lost roughly 1.2 percent this week. The greenback has slumped after the Federal Reserve signalled fewer interest rate hikes over the next few years than it previously projected and helped push long-term US Treasury yields to near nine-month lows.
The Fed's outlook accelerated the slide in Treasury yields, which had been declining on caution towards the world's biggest economy. The US currency underperformed particularly against the yen as global stock markets sank after the Fed dashed investor hopes for a more dovish policy stance.
The dollar was trading against the Indian rupee at Rs 69.850, the greenback was available at 4.177 in terms of the Malaysian ringgit and the US currency was at 6.890 versus the Chinese yuan. In the final US trade, the dollar gained on Friday as investors sought the currency's safety amid persistent equity market volatility and a possible US government shutdown.
The dollar had fallen two straight days after the US Federal Reserve on Wednesday flagged fewer interest rate hikes for the next two years. The safe-haven Japanese yen gained versus the dollar on overall market anxiety. On the week, the yen had its best weekly performance in percentage terms since February.
US President Donald Trump conceded on Friday there was a good chance the Senate would not approve his demand for $5 billion toward funding his border wall project and a government shutdown would probably begin at midnight. The news undermined Wall Street shares, with the S&P 500, already on pace for its worst December since the Great Depression, hitting its lowest since August 2017. The Dow Jones industrial average fell to its weakest since October 2017, while the Nasdaq sank to a 15-month low, flirting with bear market territory for a second day in a row.