THE RUPEE: firm trend

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SOURCEBusiness Recorder
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The rupee managed to hold present levels against the dollar on the money market on Thursday in the process of trading activity, dealers said.

INTER-BANK MARKET RATES: The rupee recovered three paisas versus the dollar for buying and selling at Rs 156.23 and Rs 156.25 respectively, they said.

OPEN MARKET RATES: The rupee was unchanged in relation the dollar for buying and selling at Rs 155.80 and Rs 156.30 respectively, they added. The rupee lost 90 paisas in terms of the euro for buying and selling at Rs 172.50 and Rs 174.50 respectively, they added.

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Also Read: THE RUPEE: slight gains

In the fourth Asian trade, the dollar found broad support on Thursday after the US Federal Reserve cut interest rates, as expected, but offered mixed signals about future easing, while weak employment figures hit the Australian currency.

The greenback gained against major currencies except for the Japanese yen, which posted its sharpest daily rise in almost a month on some safe-haven buying. The Bank of Japan also met expectations by holding off on deeper monetary easing.

The dollar was available against the Indian rupee at Rs 71.250, the greenback was at 4.195 in terms of the Malaysian ringgit and the US currency was at 7.102 versus the Chinese yuan.

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Open Bid       Rs.155.80

Open Offer     Rs.156.30

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

 

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Bid Rate       Rs.156.23

Offer Rate     Rs.156.25

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RUPEE IN LAHORE: The Pak rupee showed stability on buying side while it gained 10-paisa on selling side in relation to the greenback in the local currency market on Thursday.

According to the currency dealers, the dollar resumed trading at its overnight closing of Rs 156.00 and Rs156.50 as its buying and selling rate, respectively. The dollar did not observe any change in its buying rate while its selling rate declined down to Rs 156.40 due to lacking buyers’ interest.

The rupee also stayed unchanged on buying side and gained strength on selling side against the pound sterling. The pound was traded at Rs 193.50 and Rs 194.60 on buying and selling counter as compared to previous closing of Rs 193.50 and Rs195.00, respectively, the dealers added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 10 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday.

The dollar opened at Rs 156.60(buying) and Rs 156.70(selling) against last rate of Rs 156.70(buying) and Rs 156.80(selling).

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It closed at Rs 156.60(buying) and Rs 156.70(selling).

The buying and selling rates of one tola of gold were Rs. 86,500 (selling) and Rs 86,000(buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

(This news/article originally appeared in Business Recorder on September 20th, 2019)

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