The rupee showed a gaining trend as it moved up versus the dollar on the money market on Wednesday, dealers said. The rupee gained 12 paisa for buying at Rs 105.28 and 11 paisa for selling at Rs 105.30 against the greenback, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee picked up 5 paisa versus the dollar for buying and selling at Rs 105.70 and Rs 105.80. It also extended gains in terms of the euro by 45 paisa for buying and selling at Rs 143.75 and Rs 144.00, respectively, dealers said.
In the third Asian trade, most emerging Asian currencies rallied Wednesday with the South Korean won near one-month high as solid China trade data and an optimistic economic outlook from new US Federal Reserve Chief Janet Yellen boosted risk appetite.
The won raced on stop-loss dollar selling by offshore funds and won demand from South Korean exporters for settlements. The US currency was trading against the Indian rupee at Rs 62.17. It was at 3.3235 in terms of the Malaysian ringgit and at 6.062 versus the Chinese yuan.
Open Bid Rs 105.28
Open Offer Rs 105.30
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
Bid Rate Rs 105.70
Offer Rate Rs 105.80
RUPEE IN LAHORE: The Pak rupee showed stability and remained unchanged on buying side at Rs 105.70 but gained 30-paisa on selling side at Rs 106.00 in relation to the greenback on the local currency market on Wednesday.
According to the currency dealers, the dollar was opened on a depressed note and could not sustain due to lacking buying support. At close, the dollar’s buying rate was closed at its opening level of Rs 105.70 while its selling rate was declined from last day closing of Rs 106.30 to Rs 106.00, the dealers said.
The national currency also remained strong and appreciated its worth against the pound sterling. The pound’s buying and selling rates were slide down from Tuesday closing of Rs 173.80 and Rs 174.30 to Rs 173.75 and Rs 174.00, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 106 for buying and Rs 106.25 for selling against last rate. It did not observe further change in the second session and closed at Rs 106 for buying and Rs 106.25 for selling.
Pound Sterling opened at Rs 173 for buying and Rs 173.50 for selling against same last rate. It closed at the same rate without further change by the end of evening session.
Source: Business Recorder