The rupee played both sides against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee inched up by two-paisa against the dollar for buying and selling at Rs 101.72 and Rs 101.73m respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, depreciated by 20-paisa in terms of the dollar for buying and selling at Rs 103.00 and Rs 103.30 respectively, while it did not move any side versus the euro the second day for buying and selling at Rs 112.50 and Rs 113.50, respectively, they said.
In the third Asian trade, the dollar steadied against the euro and yen as it awaited fresh cues from a US Congressional appearance by Federal Reserve Chair Janet Yellen later in the session.
Yellen provided dollar bulls with food for thought Friday by saying she expected a rate hike at some point this year, and investors will have a chance to hear her latest thinking at the semi-annual testimony.
The euro, which has lost 1.5 percent this week, was little changed at $1.1001. As the deal between Athens and its creditors consigned the Greek debt saga to the back burner, focus has shifted back onto differentials between US yields and those in Europe and Japan. The dollar was steady at 123.43 yen, hovering close to a two-week high of 123.74 scaled overnight. The dollar was trading against the Indian rupee at Rs 63.41, the greenback was at 3.8035 in terms of the Malaysian ringgit and the US currency was available at 6.2089.
Open Bid Rs.103.00
Open Offer Rs.103.20
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
Bid Rate Rs.101.72
Offer Rate Rs.101.73
RUPEE IN LAHORE: The Pak rupee remained under pressure in relation to the foreign currencies on the open currency markets of Lahore on Wednesday ahead of Eid holidays starting from July 17.
The dollar resumed trading on a positive note at Rs 102.85 (buying) and Rs 103.10 (selling) against Rs 102.70 and Rs 102.95 of Tuesday. In the wake of surge in its demand, the greenback further appreciated its worth in relation to the local currency and closed at Rs 103.10 and Rs 103.50 on buying and selling counters, respectively.
Likewise, the British pound improved its worth against the local currency. Pound Sterling was purchased and sold at Rs 159.50 and Rs 160.50 as against Rs 158.10 and Rs 158.50 on Tuesday.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the on the open currency markets of Islamabad and Rawalpindi here on Wednesday. The dollar opened at Rs 102 (buying) and Rs 102.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 102 (buying) and Rs 102.20 (selling). Pound Sterling opened at Rs 157 (buying) and Rs 157.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 157 (buying) and Rs 157.50 (selling).