THE RUPEE: dollar at Rs 103

The rupee crossed the barrier of 103 versus the dollar on the local currency market on Wednesday, dealers said. The rupee touched the mark of 103 against the dollar, as it was down by 20-paisa for buying as well as for selling at Rs 102.80 and Rs 103.00 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee shed four-paisa in relation to the dollar, for buying and selling at Rs 102.92 and Rs 102.95 respectively. It also drifted lower versus the euro, dropping 50-paisa for buying and selling at Rs 129.50 and Rs 129.75, dealers said.

In the third Asian, South Korea’s won ended higher in Seoul on Wednesday as the central bank cut interest rates but gave little sign that it intended easing further. Most other emerging Asian currencies eased slightly on worries about a slowing global economy.

The won had weakened after the Bank of Korea slashed its base rate by 25 basis points to two percent, the lowest since mid-2010, as expected. The dollar was trading at Rs 61.41 versus the Indian rupee, the greenback was available at 3.2745 in terms of the Malaysian ringgit and the US currency was at 6.1256 in relation to the Chinese yuan.

Open Bid       Rs.102.80
Open Offer     Rs.103.00

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

Bid Rate       Rs.102.92
Offer Rate     Rs.102.95

RUPEE IN LAHORE: The Pak rupee failed to continue upward move and lost 25-paisa in relation to the greenback on the local currency market on Wednesday.

According to the currency dealers, the dollar was opened on a healthy note and kept on rising following fresh demand. At close of trading, the dollar was ended higher at Rs 102.65 and Rs 102.90 on buying and selling side against Rs 102.40 and Rs 102.65 of Tuesday, respectively, the dealers said. However, the rupee-pound sterling parity remained unchanged amid sluggish trading trend. The pound was traded at its overnight closing of Rs 164.00 and Rs 164.25 on buying and selling counter, respectively, they added.

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).

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