The rupee moved with marginal gains against the dollar on the local currency market on Wednesday in the process of trading, dealers said. The rupee managed to hold the overnight levels versus the dollar for buying and selling at Rs 98.58 and Rs 98.60, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee maintained its appreciation in terms of the dollar for buying and selling at Rs 99.60 and Rs 99.80, respectively.
The local currency jumped in relation to the euro, gaining 75 paisa for buying and selling at Rs 134.75 and Rs 135.00, they said. In the third Asian trade, the euro neared a four-month low, after the dollar’s yield advantage over the single currency widened in the wake of upbeat US economic data and the European Central Bank’s (ECB) monetary easing.
A rise in US bond yields on speculation that the US Federal Reserve could raise interest rates sooner than previously expected has supported the greenback and put pressure on the single currency this week. The dollar was trading against the Indian rupee at Rs 59.30, the greenback was available at 3.2110 versus the Malaysian ringgit and the US currency was at 6.2295 in relation to the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday. 77.63-77.63 (previous 77.63-77.63). Call Money Rates: 05.65-07.25 percent (previous 05.25-07.25 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
RUPEE IN LAHORE: The Pak rupee regained its day earlier loss, as it was improved by five-paisa against the US dollar on the local currency market on Wednesday.
According to the currency dealers, the dollar commenced trading at its Tuesday closing of Rs 99.70 and Rs 99.95 as its buying and selling rates, respectively. In the absence of buying interest, the dollar could not sustain it’s level, losing five paisa to Rs 99.65 and Rs 99.90 on buying and selling side, respectively, the dealers said. Similarly, the rupee showed strength and maintained upward slide for another day against the British pound. Because of selling pressure, the pound’s buying and selling rates were decreased from overnight closing of Rs 167.25 and Rs 167.50 to Rs 166.75 and Rs 167.00, respectively, 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 Wednesday.
The dollar opened at Rs 98.50 (buying) and Rs 98.60 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 98.50 (buying) and Rs 98.60 (selling). Pound Sterling opened at Rs 165 (buying) and Rs 165.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.