A divergent trend seen on the currency market on Wednesday as the rupee played both sides in the process of trading, dealers said. The rupee gained 13 paisa against the dollar for buying and selling at Rs 98.70 and Rs 98.80, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, shed 10 paisa in relation to the dollar for buying and selling at Rs 98.90 and Rs 99.10, they said. The rupee also lost 15 paisa in terms of the euro for buying and selling at Rs 134.40 and Rs 134.65, they said.
In the third Asian trade, the New Zealand dollar hovered near a three-year high on Wednesday, buoyed by the prospect of a sovereign rating upgrade, while the US dollar held steady ahead of minutes of the Federal Reserve’s latest policy meeting. Against a basket of major currencies, the greenback traded at 80.161, having pulled back from a 1-1/2-week high of 80.359 set earlier this week.
The dollar was trading against the Indian rupee at Rs 59.72, the greenback was at 3.1700 in terms of the Malaysian ringgit and the US currency was available at 6.196 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday. 77.61-77.61 (previous 77.63-77.63) Call Money Rates: 05.65-07.25 percent (previous 05.50-07.25 percent).
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 98.95 and Rs 99.20 on buying and selling counters, respectively, the dealers said.
On the contrary, the rupee failed to maintain upward move and remained under pressure against the British pound. The pound’s buying and selling rates were improved from Tuesday closing of Rs 168.75 and Rs 169.00 to Rs 169.00 and Rs 169.25, 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.