THE RUPEE: all-round gains

The rupee managed to hold the commanding position in terms of the dollar and euro on the currency market on Wednesday, dealers said. The rupee extended overnight gains versus the dollar, picking up 29-paisa for buying at Rs 98.38 and it also gained 30-paisa for selling at Rs 98.40 for selling, dealers said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee adopted the same pattern against the dollar as it rose by 30-paisa for buying at Rs 98.60 and it also gained 20-paisa for selling at Rs 98.90, dealers said. The national currency also appreciated in relation to the euro, gaining 35-paisa for buying and selling at Rs 136.50 and Rs 136.75, they said.

In the third Asian trade, the South Korean won hit a near six-year high on Wednesday, leading gains among emerging Asian currencies, as US Treasury yields fell ahead of Fed Chair Janet Yellen’s congressional hearings later this week.

The dollar was trading against the Indian rupee at Rs 60.11, the US currency was at 3.2450 in terms of the Malaysian ringgit and the greenback was at 3.2535 versus the Chinese Yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday: 77.65-77.65 (77.65-77.65). Call Money Rates: 05.75-07.50 percent (previous 05.50-07.50 percent).

Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.

RUPEE IN LAHORE: The Pak rupee remained strong, as it further appreciated its worth against the foreign currencies including the US dollar and British pound on the local currency markets on Wednesday.

According to the currency dealers, the dollar was opened on a depressed note and could not maintain its position versus the local currency because of lacking buyers’ interest. At close of trading, the dollar was ended at Rs 98.70 and Rs 99.00 against Rs 99.40 and Rs 99.65 of Tuesday.

Likewise, the rupee remained firm against the British pound. The pound was traded at Rs 166.00 and Rs 166.50 on buying and selling counters, respectively, as against Rs 166.75 and Rs 167.00 of Tuesday, the dealers said.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Wednesday.

The dollar opened at Rs 98.50 for buying and Rs 98.60 for selling against same last rate. It did not observe further change in the second session and closed at Rs 98.50 for buying and Rs 98.60 for selling. Pound Sterling opened at Rs 165 (buying) and Rs 165.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.

Recorder Report