Whereas, just after the announcement, the business community urged the central bank to bring down the mark-up rate to ensure cheap running capital for the country's industries.
INTER-BANK MARKET RATES: The rupee recovered more ground in terms of the dollar, picking up 32 paisas for buying at Rs 138.23 and it also rose by 35 paisas for selling Rs 138.25, they said.
OPEN MARKET RATES: The rupee also appreciated by 20 paisas against the dollar for buying and selling at Rs 138.00 and Rs 138.50 respectively, they said. While, the rupee was down by 50 paisas in relation to the euro for buying and selling at Rs 158.00 and Rs 159.50 respectively, they said.
In the fourth Asian trade, the dollar extended losses on Thursday after the Federal Reserve sent the clearest signal yet that its three-year drive to tighten monetary policy is close to an end in the face of rising pressure on the economy from slowing global growth.
As it held interest rates steady, the US central bank discarded its promises of "further gradual increases" in interest rates, and said it would be "patient" before making any further moves.
The dollar index, a gauge of its value versus six major peers, was down slightly at 95.37 and near a 3-week low, after falling 0.43 percent overnight.
The US currency's fortunes had turned down even before the Fed's signal on Wednesday, with policymakers in recent weeks sounding out that a cautious approach would be adopted following from the four rate increases delivered in 2018.
Not surprisingly analysts are bearish on the dollar, which outperformed last year thanks to the rates impulse and a robust US economy, as a Sino-US trade war and rising pressure on global growth threaten to dent output at home.
The dollar was trading against the Indian rupee at Rs 71.040, the greenback was at 4.084 versus the Malaysian ringgit and the US currency was at available at 6.698 in relation to the Chinese yuan.
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Open Bid Rs.138.00
Open Offer Rs.138.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.138.23
Offer Rate Rs.138.25
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RUPEE IN LAHORE: The Pak rupee depreciated its worth in process of trading against the US dollar in the local currency market on Thursday.
According to currency dealers, the short supply phenomenon of the US dollar prevailed throughout the trading session which helped its appreciation by 10 paisas for buying and selling at Rs 138.10 and Rs 138.80 against the opening trend of Rs 138.00 and Rs 138.70 respectively.
On the contrary, the local currency managed to keep going up for the second consecutive day versus the pound sterling. The pound's buying and selling rates further slid from Wednesday's closing of Rs 180.10 and Rs 181.40 to Rs 179.80 and Rs 181.00 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed a recovery of 30 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 138.10(buying) and Rs 138.20(selling) against last rate of Rs 138.40(buying) and Rs 138.50(selling). It closed at at Rs 138.10(buying) and Rs 138.20(selling).
The buying and selling rates of one tola of gold was Rs Rs. 67,300 (selling) and Rs 67,000(buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.