Bear dominated the local currency market on Wednesday as the rupee depreciated against the dollar, dealers said. The rupee dropped by eight-paisa versus the dollar for buying and selling at Rs 100.63 and Rs 100.65 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee in sympathy with the interbank trend shed 20-paisa versus the dollar for buying and selling at Rs 101.00 and Rs 101.20 respectively, however, it appreciated by 25-paisa in relation to the euro for buying and selling at Rs 118.50 and Rs 118.75 respectively, they said.
In the third European trade, the euro fell below the levels at which it was launched in 1999 for the first time in more than nine years on Wednesday, hit by growing expectations that the European Central Bank (ECB) could announce full-scale government bond purchases next week. The yen rose in Asian trading, as falling US yields weighed on the greenback and growing expectations of bolder stimulus steps from the European Central Bank kept the euro in check.
The dollar was trading against the Indian rupee at Rs 62.15, the greenback was available at 3.5970 in terms of the Malaysian ringgit and the US currency was at 6.1966 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday: 77.85-77.85 (previous 77.88-77.95). Call Money Rates: 07.00-09.25 percent (Previous 07.00-09.25 percent).
Open Bid Rs 100.63
Open Offer Rs.100.65
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
Bid Rate Rs.101.00
Offer Rate Rs.101.20
RUPEE IN LAHORE: The Pak rupee failed to maintain upward trend in relation to the greenback on the local currency market on Wednesday.
According to the currency dealers, the dollar was opened on a healthy note and registered gain following fresh buying. At close, the dollar was ended higher at Rs 100.90 and Rs 101.15 as its buying and selling rate against Rs 100.75 and Rs 101.00 of Tuesday, respectively, the dealers said.
Similarly, the rupee continued downward move for another day and was depreciated against the pound sterling. The pound’s buying and selling rates were improved from overnight closing of Rs 152.00 and Rs 152.25 to Rs 152.25 and Rs 152.50, respectively, 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 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).