Bears persisted on the money market on Wednesday as the rupee failed to come out of vulnerability in terms of the dollar and euro, dealers said. The rupee fell 7-paisa in relation to the dollar for buying and selling at Rs 100.54 and Rs 100.57 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee followed same track versus dollar, losing 10-paisa for buying and selling at Rs 100.80 and Rs 101.00, they said. The rupee also dropped by 50-paisa against the euro for buying and selling at Rs 125.50 and Rs 125.75, they said.
In the third Asian trade, the dollar nursed its losses in Asian trading, pulling away from lows hit overnight on skidding oil prices, Russia’s financial crisis, and speculation that the Federal Reserve might take a more cautious tone on monetary policy.
Data released earlier on Wednesday showed Japan’s exports rose 4.9 percent in November, falling short of forecasts despite the weakening yen, which helped the dollar regain some of the ground it lost overnight against its Japanese counterpart.
The dollar was trading against the Indian rupee at Rs 63.58, the greenback was at 3.4855 versus the Malaysian ringgit and the US currency was available at 6.197 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday: 77.88-77.88 (previous 77.88-77.88). Call Money Rates: 06.00-08.50 percent (Previous 06.00-08.50 percent).
Open Bid Rs 100.80
Open Offer Rs.101.00
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
Bid Rate Rs.100.54
Offer Rate Rs.100.57
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 101.30 (buying) and Rs 101.40 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101.30 (buying) and Rs 101.40 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 159 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 159 (selling).