WEB DESK: A range-bound trade was again witnessed on the money market as the rupee traded in a narrow-band in relation to the dollar, dealers said.
The rupee almost held the overnight levels against the dollar for buying and selling at Rs 105.50 and Rs 105.51 respectively, they said.
INTERBANK MARKET RATES: The rupee followed the same print, showing no variation in terms of the dollar for buying and selling at Rs 105.50 and Rs 105.70 respectively, they said. The rupee picked up just five-paisa versus the euro for buying and selling at Rs 115.25 and Rs 116.25 respectively, they added. In the fourth Asian trade, the dollar held on to modest gains on Wednesday having firmed against the euro and yen on rising Treasury yields, but it was the contrasting fortunes of the Antipodean currencies that stole the show.
A further decline in dairy prices and soft jobs data all but sealed the kiwi’s fate as the worst major performer, while a slightly more upbeat outlook on the economy by Australia’s central bank put a spring in the Aussie’s step. The dollar was trading against the Indian rupee at Rs 65.57, the greenback was at 4.2650 in terms of the Malaysian ringgit and the US currency was at 6.334 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 78.14-78.18 (previous 78.14-78.15).
Open Bid Rs 105.50
Open Offer Rs.105.70
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
Bid Rate Rs.105.50
Offer Rate Rs.105.51
RUPEE IN LAHORE: The Pak rupee continued rising trend and marginally improved by five-paisa in relation to the greenback on the local currency market on Wednesday.
The dollar commenced trading at its overnight closing of Rs 105.45 and Rs 105.80 as its buying and selling rate, respectively. In the absence of buyers’ interest, the dollar slightly decreased to Rs 105.40 and Rs 105.75 on buying and selling counter, respectively, the dealers said.
However, the rupee failed to maintain upward move and remained under pressure against the pound sterling throughout the day. At close, the pound ended at Rs 162.00 and Rs 162.70 on buying and selling side compared with the Tuesday closing of Rs 161.60 and Rs 162.00, respectively, they added.
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 104 (buying) and Rs 104.25 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 104 (buying) and Rs 104.25 (selling). Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).