The rupee managed to gain against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee maintained firmness in terms of the dollar, recovering 18-paisa for buying at Rs 98.32 and it also picked up 15-paisa for selling at Rs 98.35, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: While the rupee firmly held the overnight levels in relation to the dollar for buying and selling at Rs 99.70 and Rs 99.90. It also showed no change in relation to the euro for buying and selling at Rs 134.75 and Rs 135.00, they said.
In the third Asian trade, the US dollar held onto modest gains on Wednesday, having risen broadly after US consumer prices recorded their largest increase in more than a year in May. The dollar index last stood at 80.607, having climbed 0.2 percent on Tuesday. Against the yen, the greenback reached a one-week high of 102.25, while the euro retreated from a one-week peak to $1.3547.
The dollar was trading against the Indian rupee at Rs 60.40, the greenback was at 3.2320 in terms of the Malaysian ringgit and the US currency was available at 6.2316 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday: 77.63-77.63 (previous 77.63-77.63). Call Money Rates: 05.50-07.00 percent (previous 05.25-07.25 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
RUPEE IN LAHORE: The Pak rupee remained weak, as it shed five-paisa against the US dollar on the local currency market on Wednesday.
According to the currency dealers, the dollar was opened on a negative sign and could not sustain due to lacking buyers’ interest. At close of trading, the dollar was ended at Rs 99.65 and Rs 99.90 as its buying and selling rates against Rs 99.60 and Rs 99.85 of Tuesday, respectively.
However, the rupee-pound sterling parity remained unchanged amid sluggish trading activity on the open market. The pound was traded at its overnight closing of Rs 168.75 and Rs 169.00 on buying and selling counter, respectively, 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 (buying) and Rs 98.60 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 98.50 (buying) and Rs 98.60 (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.