THE RUPEE: minor changes

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SOURCEBusiness Recorder
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The rupee showed little changes in relation to the dollar on the money market on Thursday, dealers said. The rupee rose by four paisas versus the dollar for buying and selling at Rs 138.86 and Rs 138.88 respectively, the said.

INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee shed 10 paisas in terms of dollar for buying at Rs 138.70 while it did not move any side for selling at Rs 139.00, they said. The rupee was trading versus the euro for buying and selling at Rs 159.20 and Rs 160.80 respectively, they said.

In the fourth Asian trade, the dollar weakened versus major peers such as the euro and yen on Thursday due to growing expectations the Federal Reserve will pause its rate tightening cycle this year.

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Minutes from the Fed’s Dec. 18-19 meeting revealed that several policymakers were in favour of the US central bank keeping rates steady this year.

Broader market sentiment turned slightly cautious in Asian trade as markets waited for concrete evidence that progress is being made in US-China trade talks.

Also Read: THE RUPEE: steady trend

The dollar was trading against the Indian rupee at Rs 70.580, the greenback was available at 4.095 versus the Malaysian ringgit and the US currency was at 6.792 in terms of the Chinese yuan.

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Open Bid       Rs.138.70

Open Offer     Rs.139.00

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

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Bid Rate       Rs.138.86

Offer Rate     Rs.138.88

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RUPEE IN LAHORE: The Pak rupee depreciated on buying side while it stayed unchanged on selling side in relation to the greenback in the local currency market on Thursday.

According to currency dealers, the greenback gained 10 paisas and ended higher for selling at Rs 138.50 against the opening rate of Rs 138.40 whereas it stayed unchanged for selling at Rs 139.40.

Likewise, the national currency lost 20 paisas against the pound sterling and ended higher for buying at Rs 175.50 against the overnight closing trend of Rs 175.30 while it firmly sustained its opening rate for selling at Rs 176.80, they added.

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

The dollar opened at Rs 138.70 (buying) and Rs 138.90 (selling) against same last rate. It closed at Rs 138.70 (buying) and Rs 138.90 (selling).

The buying and selling rates of one tola of gold was Rs 67,800 (selling) and Rs 675,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.

(This news/article originally appeared in Business Recorder on January 11th, 2019)

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