THE RUPEE: mixed patterns

Divergent trend was seen on the money market on Wednesday in the process of trading, dealers said. The rupee inched up by four-paisa in relation to the dollar for buying and selling at Rs 102.59 and Rs 102.62 respectively, they said.

INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee was lower against the dollar, losing 10-paisa for buying and selling at Rs 102.20 and Rs 102.40, respectively, but gained 50-paisa in terms of the euro for buying and selling at Rs 128.00 and Rs 128.25 respectively, they said.

In the third Asian trade, the dollar struck a six-year high against the yen and was poised near a two-year peak against the euro, while gathering more bullish impetus on Wednesday as weaker than expected Australian retail sales data sparked selling on Australian dollar.

The dollar’s strength overnight was partially down to a slowdown in euro zone inflation, which fed expectations of a divergence between monetary policies in Europe and the United States, with the Federal Reserve expected to tighten at some point.

The dollar was trading against the Indian rupee at Rs 61.80, the greenback was at 3.2815 in terms of the Malaysian ringgit and the US currency was available at 6.1395 in relation to 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: 06.00-09.25 percent (Previous 05.75-09.00 percent).

Open Bid       Rs.102.20
Open Offer     Rs.102.40

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

Bid Rate       Rs.102.59
Offer Rate     Rs.102.62

RUPEE IN LAHORE: The Pak rupee continued rising trend for the third consecutive day and was improved by 10-paisa against the US dollar on the local currency market on Wednesday.

According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 102.25 and Rs 102.50 as its buying and selling rate, respectively. Because of lacking interest on the part of buyers, the dollar was declined to Rs 102.15 and Rs 102.40 on buying and selling rate, respectively, the dealers said.

Similarly, the rupee remained strong and was appreciated against the pound sterling. The pound’s buying and selling rates were slide down from overnight closing of Rs 167.75 and Rs 168.00 to Rs 166.25 and Rs 166.50, 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).

Recorder Report