THE RUPEE: modest gains

The rupee managed to rise modestly against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee picked up 18-paisa in relation to the dollar for buying at Rs 102.50 and it also rose by 15-paisa for selling at Rs 102.55, they said.

INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee, however, shed five-paisa versus the dollar for buying and selling at Rs 101.70 and Rs 101.90, they said. The rupee fell in terms of the euro, losing 50-paisa for buying and selling at Rs 134.50 and Rs 134.25, they said.

In the third Asian trade, the dollar hovered at 14-month highs against a basket of major currencies on Wednesday, underpinned by stronger-than-expected US data and a resulting rise in Treasury yields. The greenback received further support from a sell-off in the yen, which neared a six-year low against its US counterpart, and in sterling, pummelled by opinion polls suggesting growing support for Scottish independence in a referendum later this month.

The dollar was trading against the Indian rupee at Rs 60.59, the greenback was at 3.1870 in relation to the Malaysian ringgit and the US currency was available at 6.1451 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 77.40-77.41 (previous 77.40-77.40). Call Money Rates: 05.50-06.75 percent (Previous 05.50-06.75 percent.

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

RUPEE IN LAHORE: The Pak rupee staged recovery and gained 10-paisa against the US dollar on the local currency market on Wednesday.

According to the currency dealers, the dollar commenced trading at its overnight closing of Rs 102.25 and Rs 102.50 as its buying and selling rates, respectively. In the absence of buyers’ interest, the dollar could not sustain and was declined to Rs 102.15 and Rs 102.40 on buying and selling side, the dealers said.

Similarly, the rupee maintained upward slide and was further appreciated against the British pound. The pound’s buying and selling rates were slipped from Tuesday closing of Rs 168.50 and Rs 168.75 to Rs 167.75 and Rs 168.00, respectively, they added.

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

The dollar opened at Rs 102.00 (buying) and Rs 102.10 (selling) against last rate. It did not observe further change in the second session and closed at Rs 102.00 (buying) and Rs 102.10 (selling). Pound Sterling opened at Rs 168 (buying) and Rs 168.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 168 (buying) and Rs 168.10 (selling).

Recorder Report