The rupee sustained its overnight firmness versus the dollar on the interbank market, while it drifted lower against the dollar on the open market in the process of trading on Wednesday, dealers said.
INTER-BANK MARKET RATES: The rupee rose by one-paisa in relation to the dollar for buying and selling at Rs 101.95 and Rs 101.97 respectively, they said.
OPEN MARKET RATES: The rupee lost 20-paisa in terms of the dollar for buying at Rs 102.40 and it also shed 10-paisa for selling at Rs 102.60, they said.
The rupee inched up by five-paisa versus the euro for buying and selling at Rs 110.80 and Rs 111.05 respectively, they said
In the third Asian trade, the dollar took a step back on Wednesday but retained a bulk of its overnight gains after currency bulls scooped up the greenback following the tumble induced by weak US non-farm payrolls late last week.
The dollar was down 0.2 percent at 120.09 yen after jumping 0.6 percent the previous day, when currency markets returned to full strength following the Easter holidays.
The greenback was back at a level prior to Friday’s much weaker-than-expected US jobs data release, which took it down to as low as 118.71 yen by cooling prospects of an earlier interest rate hike by the Federal Reserve.
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: 07.00-8.00 percent (Previous 07.00-08.00 percent).
Open Bid Rs 102.40
Open Offer Rs 102.60
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
Bid Rate Rs 101.95
Offer Rate Rs 101.97
RUPEE IN LAHORE: The rupee recovered some of its earlier losses and gained five paisas against the US dollar on the local currency market on Wednesday.
Currency dealers said the dollar began trading at its day earlier closing of Rs 102.30 and Rs 102.55 as its buying and selling rate, respectively. In the absence of buyers’ interest, the dollar declined to Rs 1092.25 and Rs 102.50 on buying and selling side, respectively. Yet, the rupee showed strength and appreciated its worth against the pound sterling which was purchased and sold at Rs 151.50 and Rs 151.75 compared with Tuesday closing of Rs 152.00 and Rs 152.25, 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).