THE RUPEE: more recovery

Further recovery was seen in the rupee’s value against the dollar on the money market on Wednesday, dealers said. The rupee extended its overnight journey in relation to the dollar, gaining 13-paisa for buying at Rs 102.65 and it also gained 16-paisa for selling at Rs 102.68, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also rose by 10-paisa in terms of the greenback for buying and selling at Rs 102.30 and Rs 102.50 respectively, but it showed no change versus the euro for buying and selling at Rs 132.50 and Rs 132.75, they said.

In the third Asian trade, the US dollar firmed, recovering from a setback in the previous session as investors awaited the Federal Reserve’s latest guidance on US interest rates. The Fed’s Open Market Committee will conclude its regular two-day policy meeting later in the session, at which it is expected to discuss the timing of the next US rate increase.

The dollar was trading against the Indian rupee at Rs 60.99, the greenback was at 3.2190 in terms of the Malaysian ringgit and the greenback was at 6.143 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 77.40-77.40 (previous 77.40-77.40). Call Money Rates: 06.25-08.25 percent (Previous 05.50-07.00 percent).

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

RUPEE IN LAHORE: The national currency showed stability as it stayed unchanged against the greenback on the local currency market on Wednesday.

According to the currency dealers, the dollar was opened at its overnight closing of Rs 102.65 and Rs 102.90 on buying and selling rate, respectively. The dollar did not observe any change in its demand and supply situation due to which the dollar was ended at the opening level.

The Pak rupee remained strong and was appreciated against the pound sterling. The pound’s buying and selling rates were declined from Tuesday closing of Rs 166.50 and Rs 166.75 to Rs 166.00 and Rs 166.25, 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 101 (buying) and Rs 101.10 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101 (buying) and Rs 101.10 (selling) against.

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