Steadier trend was witnessed on the money market on Wednesday as the rupee moved cautiously versus the dollar in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee sustained its present levels, showing no major change versus the dollar for buying and selling at Rs 102.00 and Rs 102.40 respectively, they said.
OPEN MARKET RATES: The rupee held the last levels against the dollar for buying and selling at Rs 102.40 and Rs 102.60 respectively. It continued its fall in relation to the euro, shedding 20-paisa for buying and selling at Rs 112.00 and Rs 112.25 respectively, they said.
In the third Asian trade, the dollar hovered above a two-week low versus a basket of major currencies, pausing from the recent sell-off sparked by doubts over how soon the Federal Reserve may start raising interest rates.
Investors had rushed to cut long dollar positions after the Federal Reserve took a dovish tone on interest rates last week, sending the greenback crashing back from multi-year highs.
The dollar index last stood at 97.152. On Tuesday it had set a two-week low of 96.387, down roughly 4 percent from a near 12-year high of 100.39 struck in mid-March. The euro held steady near $1.0923, having backed off from Tuesday’s intraday high of $1.10295.
The greenback was available against the Indian rupee at Rs 62.29, the dollar was at 3.6600 in terms of the Malaysian ringgit and the US currency was at 6.2111 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday: 77.80-77.80 (previous 77.80-77.80).Call Money Rates: 07.50-8.00 percent (Previous 07.50-08.00 percent).
Open Bid Rs 102.40
Open Offer Rs 102.60
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
Bid Rate Rs102.00
Offer Rate Rs102.04
RUPEE IN LAHORE: The Rupee maintained upward slide for another day and gained 10-paisa against the US dollar on the local currency market on Wednesday.
Currency dealers said the dollar commenced trading at its day earlier closing of Rs 102.60 and Rs 102.85 as its buying and selling rate, respectively. In the absence of buyers’ interest, the dollar could not sustain and ended lower at Rs 102.50 and Rs 102.75 on buying and selling side, respectively.
Similarly, the rupee showed strength and appreciated its worth against British pound. The pound’s buying and selling rates were decreased from Tuesday closing of Rs 152.00 and Rs 152.50 to Rs 151.50 and Rs 151.75, respectively.
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).