The rupee dropped modestly against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee slipped by four-paisa in terms of the dollar for buying and selling at Rs 101.78 and Rs 101.80 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee did not move any side against the dollar for buying at Rs 102.00 and for selling at Rs 102.20. It lost Rs 1.75 in relation to the euro for buying and selling at Rs 107.75 and Rs 108.00 respectively, they said.
In the third Asian trade, the euro fell to a fresh 12-year low against the dollar on Wednesday, extending a broad decline after the European Central Bank kicked off its one trillion euro bond-buying programme this week.
The ECB began printing money to buy sovereign bonds on Monday with a view to supporting growth and lifting euro zone inflation from below zero. Yields on the debt of nearly all euro zone countries dropped to record lows overnight. The dollar was trading against the Indian rupee at Rs 62.72, the greenback was at 3.6935 in terms of the Malaysian ringgit and the US currency was available at 6.2634 against the Chinese yuan.
Open Bid Rs 102.00
Open Offer Rs 102.20
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
Bid Rate Rs 101.78
Offer Rate Rs 101.80
RUPEE IN LAHORE: The rupee remained under pressure and lost 15-paisa on buying side (Rs 102.00) and 20-paisa on selling side (Rs 102.30) in relation to the US dollar on the local currency market on Wednesday.
Currency dealers said that dollar was opened on a healthy note and registered gain following fresh buying. At close, the dollar ended higher at Rs 102.00 and Rs 102.30 as its buying and selling rate against Rs 101.85 and Rs 102.10 of Tuesday, respectively.
However, the rupee showed stability and remained unchanged against the British pound. The pound was purchased and sold at its day earlier closing of Rs 153.25 and Rs 153.50, respectively, the dealers said.
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 101.75 (buying) and Rs 101.85 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 101.75 (buying) and Rs 101.85 (selling).
Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 155 (buying) and Rs 155.50 (selling).