THE RUPEE: firm trend

The rupee almost held the overnight levels in relation to the dollar on the money market on Wednesday, dealers said. The rupee recovered two-paisa against the dollar for buying at Rs 98.78 and it also gained one-paisa for selling at Rs 98.80, they said.

INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee retained last levels versus the dollar for buying and selling at Rs 98.75 and Rs 98.95 respectively, while it managed to gain sharply by Rs 1.05 in terms of the euro for buying and selling at Rs 133.20 and Rs 133.45, they said.

In the third Asian trade, the dollar clung to modest gains after bulls latched on to a comment by Federal Reserve head Janet Yellen that rates could rise sooner if employment continued to improve. The Australian dollar, meanwhile, couldn’t sustain a short-lived blip higher on better-than-expected Chinese growth data and it slumped as its New Zealand counterpart spiralled lower after benign domestic price data.

The dollar was trading against the Indian rupee at Rs 60.17, the greenback was at 3.1905 in terms of the Malaysian ringgit and the greenback was available at 6.2075 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka BDT against the dollar on Wednesday: 77.60-77.61 (previous 77.60-77.60). Call Money Rates: 06.00-07.25 percent (previous 05.50-07.25 percent).

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

RUPEE IN LAHORE: The Pak rupee maintained upward trend for the third consecutive day and was further improved by 15-paisa in relation to the greenback on the local currency market on Wednesday.

According to the currency dealers, the dollar was opened on a depressed note and remained under pressure due to lacking buyers’ interest. At close of trading, the dollar was ended lower at 98.85 and Rs 99.10 as its buying and selling rates against Rs 99.00 and Rs 99.25 of Tuesday, respectively.

Similarly, the rupee staged recovery and was appreciated against the pound sterling. The pound was traded at Rs 169.00 and Rs 169.25 on buying and selling counters compared with overnight closing of Rs 169.10 and Rs 169.35, 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.