Firmness prevailed on the money market on Wednesday as the local currency maintained overnight gains in process of trading, dealers said. The rupee gained against the dollar, picking up 6 paisa for buying and selling at Rs 100.94 and Rs 100.98, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee held the overnight rates versus the dollar for buying and selling at Rs 101.30 and Rs 101.50, they said. The rupee, however, lost 25 paisa against the euro for buying and selling at Rs 125.25 and Rs 125.50, they said.
In the third Asian trade, the dollar nursed hefty losses following a brutal shakeout of bullish positions as investors found incentives to take profits as the year-end loomed.
The greenback slid to 118.780 against the yen, a safe haven destination in its own right, having dropped more than 2 percent at one stage to 117.90 in a vicious turnaround from a seven-year peak of 121.86 set on Monday.
The greenback was available at Rs 62.03 versus the Indian rupee, the US currency was trading against the Malaysian ringgit at 3.4725 and the dollar was 6.174 in terms of the Chinese yuan. Inter-bank buy-sell rates for the taka against the dollar on Wednesday: 77.85-77.85 (previous 77.84-77.85). Call Money Rates: 06.25-08.25 percent (Previous 05.75-08.25 percent).
Open Bid Rs 101.30
Open Offer Rs 101.50
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
Bid Rate Rs 100.94
Offer Rate Rs 100.98
RUPEE IN LAHORE: The Pak rupee remained strong, as it was improved by 30-paisa 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 remained under selling pressure during the day’s trading. At close of trading, the dollar was ended lower at Rs 101.30 and Rs 101.55 as its buying and selling rate against Rs 101.60 and Rs 101.85 of Tuesday, respectively, the dealers said.
However, the national currency showed stability and stayed unchanged against the pound sterling. The pound was traded at its day earlier closing of Rs 158.25 and Rs 158.50 on buying and selling counter, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 101.30 (buying) and Rs 101.40 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101.30 (buying) and Rs 101.40 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 159 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 159 (selling).