Minor changes were seen on the money market on Wednesday in the process of trading, dealers said. The rupee showed two-paisa loss against the dollar for buying at Rs 101.87 and one-paisa fall for selling at Rs 101.88, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee was unchanged versus the dollar for buying and selling at Rs 102.90 and Rs 103.15 respectively, they said, adding the rupee lost Rs 1.05 in relation to the euro for buying and selling at Rs 114.30 and Rs 115.30.
In third Asian trade, the The Thai baht hit a one-week high on Wednesday after Thailand’s finance minister said there was no need to cut interest rates further, while Asian currencies rose broadly as the dollar lost some momentum.
Hopes for progress in Greek debt talks and a huge spike in European yields had triggered a 2 percent jump in the euro on Tuesday, knocking the dollar lower.
That gave some respite to Asian currencies, which had come under renewed pressure over the past couple of weeks due to market expectations for the U.S. Federal Reserve to raise interest rates later this year. The dollar was trading against the Indian rupee at 63.93, the greenback was at 3.6755 versus the Malaysian ringgit and US currency was available at 6.1971 in terms of the Chinese yuan.
Open Bid Rs 101.87
Open Offer Rs 101.88
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
Bid Rate Rs 102.90
Offer Rate Rs 103.15
RUPEE IN LAHORE: The rupee failed to keep rising and remained under pressure against the dollar and the British pound on the local currency market on Wednesday.
The dollar resumed trading healthily and kept rising following fresh buying and ended higher at Rs 103.30 and Rs 103.50 as its buying and selling rate against Rs 102.90 and Rs 103.10 of Tuesday. The rupee remained weak and declined against the pound sterling which was traded at Rs 156.80 and Rs 157.80 compared with the overnight closing of Rs 156.50 and Rs 156.75.
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 101.75 (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).