Pak Rupee: Dollar moves both ways

Friday June 26, 2009

KARACHI: Rates moved both ways on the currency market on Thursday as supply position was matching with demand, money experts said. On the interbank market the rupee recovered 13 paisa in relation to the dollar for buying at 81.42 and 14 paisa for selling at 81.46, dealers said. Dollar supply was good which helped the rupee to look ahead in terms of dollar, they added.

Amid fourth Asian trade session dollar edged off stronger levels hit after the Federal Reserve meeting, while yen fell as the market weighed up whether to resume rallies in riskier assets. The Fed kept to its debt buyback programme and signalled it was less concerned about deflation, but it also said inflation would remain subdued for some time and interest rates would stay low for an extended period.

Open Market Rates: The rupee failed to retain its overnight level versus dollar, losing 10 paisa for buying at 81.40 and selling at 81.70, they said. The rupee gained 70 paisa against euro for buying at Rs 112.55 and Rs 113.55 for selling, they said.

Open Buying Rs 81.40
Open Selling Rs 81.70
Interbank Closing Rates: Interbank Closing Rates For Dollar On Thursday.

Buying Rs 81.42
Selling Rs 81.46


(BRecorder)