The rupee moved both ways on the money market on Wednesday in the process of trading, dealers said. The rupee posted fresh gains of 13-paisa in terms of the dollar for buying at Rs 98.67 and the national currency also picked up 15-paisa for selling at Rs 98.70, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, shed five-paisa versus the dollar for buying and selling at Rs 99.25 and Rs 99.45, while it shed five-paisa against the euro for buying and selling at Rs 135.20 and Rs 135.45 respectively, they said.
In the third Asian trade, the British pound held firm near six-year highs following an upbeat manufacturing survey while the yen and the euro lost steam as the up tick from quarter-end buying faded. Commodity currencies outperformed other major rivals thanks to high commodity prices and increased risk appetite, reflected in surging equities worldwide. The dollar was trading against the Indian rupee at Rs 60.05, the greenback was available at 3.2045 versus the Malaysian ringgit and the US currency was at 6.2124 in terms of the Chinese yuan.
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
RUPEE IN LAHORE: The Pak rupee-dollar parity remained unchanged amid sluggish trading trend on the local currency market on Wednesday.
According to the currency dealers, the dollar did not observe any change in its demand and supply situation that helped rupee stability. The dollar was traded at its overnight closing of Rs 99.25 and Rs 99.50 as its buying and selling rate, respectively, the dealers said.
However, the rupee maintained downward slid and was further declined against the British pound. The pound was purchased and sold at Rs 169.25 and Rs 169.50, compared with Tuesday closing of Rs 168.75 and Rs 169.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on 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.