In the inter-bank market, the rupee almost managed to trade versus the dollar for buying and selling at Rs 110.56 and Rs 110.57. Commenting on the stable trend in the market, some experts were of the opinion that availability of dollars helped the rupee to retain it's present levels.
It is most likely that the national currency may maintain it's levels in the coming days, they added. To increase foreign exchange earning, they said that Pakistan is an agriculture country and cotton is it's biggest source of foreign exchange earning, so that the government must make efforts to generate foreign exchange reserves, this factor would make able the country to achieve.
Some of them emphasised a shifting of focus from traditional crops to high value crops, which will not only help earning huge foreign exchange reserves but it will also change the fate of farmers and other people connected with this farm sector. Some experts said that foreign investors are keen to invest in Pakistan but there is dire need for consistent and transparent policies along with affordable taxes.
OPEN MARKET RATES: On Monday, the rupee extended week-end's rising trend, picking up 10 paisas more in terms of the dollar for buying and selling at Rs 111.60 and Rs 111.90.
The rupee, however, depreciated in relation to the euro, losing 50 paisas for buying and selling at Rs 136.75 and Rs 138.25. On Tuesday, the rupee picked up more 10 paisas more in terms of the dollar for buying and selling at Rs 111.50 and Rs 111.80. The rupee also gained 25 paisas in relation to the euro for buying and selling at Rs 136.50 and Rs 138.00.
On Wednesday, the rupee sustained its overnight levels in terms of the dollar for buying and selling at Rs 111.50 and Rs 111.80. The rupee lost 80 paisas in relation to the euro for buying and selling at Rs 137.30 and Rs 138.80. On Thursday, the rupee did not move any side in relation to the dollar for buying and selling at Rs 111.50 and Rs 111.80. The rupee gained 30 paisas versus the euro for buying and selling at Rs 137.00 and Rs 138.50. On Friday, the rupee sustained it's overnight levels in terms of the dollar for buying and selling at Rs 111.50 and Rs 111.80, they said. The rupee, however, gained 30 paisas in relation to the euro for buying and selling at Rs 136.70 and Rs 138.20, they added.
On Saturday, the rupee showed no changes in terms of the dollar for buying and selling at Rs 111.50 and Rs 111.80. The rupee, however, gained 70 paisas in relation to the euro for buying and selling at Rs 136.00 and Rs 137.50.
INTER-BANK MARKET RATES: On Mar 12, the rupee shed two paisas versus the dollar for buying and selling at Rs 110.57 and Rs 110.58. On March 13, the rupee maintained overnight levels versus the dollar for buying and selling at Rs 110.57 and Rs 110.58. On Mar 14, the rupee did not move any side versus the dollar for buying and selling at Rs 110.57 and Rs 110.58. On March 15, the rupee rose by one paisa versus the dollar for buying and selling at Rs 110.56 and Rs 110.57. On Mar 16, the rupee almost managed to trade within the present band versus the dollar for buying and selling at Rs 110.56 and Rs 110.57.
OVERSEAS MARKET OUTLOOK: In the first Asian trade, the dollar eased versus the yen on Monday, as traders worried that a suspected cronyism scandal in Japan involving the sale of state-owned land could dampen investors' risk appetites. The dollar was trading against the Indian rupee at Rs 65.005, the greenback was at 3.907 versus the Malaysian ringgit and the US currency was at 6.332 in relation to the Chinese yuan.
Market participants said the political developments in Japan helped temper gains in Japanese equities and lent some support to the yen, which tends to rise in times of economic uncertainty. Inter bank buy/sell rates for the taka against the dollar on Monday. 82.96-82.96 (Previous 82.96-82.96).
In the second Asian trade, the yen held firm against the dollar on Tuesday as a political scandal engulfing Japanese Prime Minister Shinzo Abe's government raised doubts about his ability to continue to pursue his economic policies, including monetary easing.
The yen traded at 106.44 per US dollar, after gaining 0.4 percent the previous day as Abe's cronyism scandal attracted fresh attention from market participants. The Ministry of Finance admitted on Monday it altered documents related to a discounted sale of state-owned land to a school operator with ties to Abe's wife.
The suspected cover-up could slash Abe's ratings and dash his hopes for a third term as leader of his Liberal Democratic Party (LDP) in LDP leadership vote in September. The dollar was trading against the Indian rupee at Rs 64.948, the greenback was available at 3.905 versus the Malaysian ringgit and the US currency was at 6.327 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday. 82.96-82.96 (Previous 82.96-82.96).
In the third Asian trade, the dollar wallowed against the yen and other major currencies on Wednesday after the sudden dismissal of US Secretary of State Rex Tillerson killed off an earlier bounce in the currency.
The dollar was available against the Indian rupee at Rs 64.980, the greenback was at 3.894 versus the Malaysian ringgit and the US currency was at 6.316 in relation the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday. 82.96-82.96 (Previous 82.96-82.96).
In the fourth Asian trade, the dollar touched a one-week low against the yen on Thursday, as lingering worries about global trade tensions weighed on investors' risk appetite.
Against this backdrop, the safe-haven yen has gained support, Innes added. The dollar last traded at 106.01 yen, down 0.3 percent on the day. Earlier on Thursday, the dollar had touched a trough of 105.825 yen, its lowest level since March 7. A drop to levels below its early March low of 105.24 yen would take the greenback to its weakest since November 2016.
The dollar was available against the Indian rupee at Rs 64.945, the greenback was at 3.914 versus the Malaysian ringgit and the US currency was trading against the Chinese yuan at 6.313. Inter bank buy/sell rates for the taka against the dollar on Thursday. 82.96-82.96 (Previous 82.96-82.96).
In the final Asian trade, the dollar fell versus the yen on Friday, after a report that US President Donald Trump would remove his national security adviser added to concerns about recent White House personnel changes and what that meant for policy.
The dollar was available against the Indian rupee at Rs 64.903, the greenback was trading at 3.921 versus the Malaysian ringgit and the US currency was at 6.328 in terms of the Chinese yuan.
In the final NY trade, the dollar rose against most currencies on Friday, bolstered by solid US economic data that further supported consensus expectations that the Federal Reserve will raise interest rates at next week's monetary policy meeting. The dollar, however, fell to a more than one-week low against the yen, undermined by speculation that more top Trump administration officials could be replaced and concerns US trade tariffs could hurt the global economy.