A marginal fall was seen in the value of the rupee versus the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee did not show any change in relation to the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectively, they said.
INTER-BANK MARKET RATES: In the third Asian trade, the dollar held firm, having rebounded from 6-1/2-month lows against its major peers helped by a rise in US Treasury yields, while the yuan eased after Moody’s cut its sovereign rating on China due to concerns over the country’s soaring debt.
The dollar index held steady against a basket of six currencies at 97.321 after bouncing 0.4 percent the previous day. It managed to pull away from the 96.797 level plumbed on Monday, its lowest since November 9, when concerns over US politics stemming from the Trump election campaign’s suspected links with Russia took a toll on the greenback.
The dollar was boosted as US debt prices fell, with the benchmark 10-year Treasury note yield climbing 3 basis points overnight and putting some distance between the one-month trough reached last week in a bond-buying flight to safety.
The dollar was firm at 111.795 yen after a bounce to 111.995 yen, its highest in a week. The dollar was trading against the Indian rupee at Rs 64.915, the greenback was at 4.301 versus the Malaysian ringgit and the US currency was at 6.893 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 80.53-80.55 (previous 80.53-80.55).
OPEN MARKET RATES: The rupee lost 10 paisas in relation to the dollar for buying at Rs 106.00 and it also shed five paisas for selling and Rs 106.15, however, it picked up 35 paisas in terms of the euro for buying and selling at Rs 118.25 and 119.75 respectively, they said.
======================== Open Bid Rs.106.00 Open Offer Rs.106.15 ========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
======================== Bid Rate Rs.104.85 Offer Rate Rs.104.86 ========================
RUPEE IN LAHORE: The Pak rupee failed to sustain it’s rising trend versus the US dollar in the local currency market on Wednesday.The currency dealers said the US dollar resumed trading on a positive note amidst short supply phenomenon in the market.
Consequently, it rose to Rs 106.10 and Rs 106.30 on buying and selling counters, respectively, as compared to the overnight closing trend of Rs 105.90 and Rs 106.15 respectively, they added.
Versus the pound sterling, the local currency showed mixed patterns as it moved both ways on buying and selling sides in the market.
The British currency was bought and sold at Rs 137.00 and Rs 137.30 against Rs 137.15 and Rs 137.70 of Tuesday, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee stayed put against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 105.90 (buying) and Rs 106 (selling) against last rate of Rs 106.05 (buying) and Rs 106.15. It closed at Rs 105.90 (buying) and Rs 106 (selling).
Pound Sterling opened at Rs 135 (buying) and Rs 135.50 (selling). It closed at the same rate.-Business Recorder