Rates turned lower on the money market on Wednesday as the rupee fell against the dollar and euro, dealers said. The rupee dropped five-paisa versus the dollar for buying at Rs 101.20 and it also shed seven-paisa for selling at Rs 101.25, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee slipped by 10-paisa in terms of the dollar for buying and selling at Rs 101.50 and Rs 101.70 respectively. It failed to lift from bottom in relation to the euro, dipping 80-paisa for buying and selling at Rs 115.80 and Rs 116.05 respectively, they said.
In the third Asian trade, the greenback nursed broad losses early on Wednesday, having suffered its biggest one-day fall in over a year as investors cut long positions in a torrid session for dollar bulls.
The market instead snapped up commodity currencies on a further recovery in oil prices and a surge in copper, while some optimism that Greece may yet secure a new debt deal shored up the euro.
The dollar was trading against the dollar at Rs 61.63, the US currency was at 3.5460 versus the Malaysian ringgit and the greenback was at 6.2490 in relation to the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 07.00-09.00 percent (Previous 07.00-09.00 percent).
Open Bid Rs 101.50
Open Offer Rs.101.70
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
Bid Rate Rs.101.20
Offer Rate Rs.101.25
RUPEE IN LAHORE: The Pak rupee staged recovery in relation to the greenback on the local currency market on Wednesday. According to the currency dealers, the dollar opened on a depressed note and remained under selling pressure. At close of trading, the dollar was ended lower at Rs 101.60 and Rs 101.85 as its buying and selling rates against Rs 101.70 and Rs 101.95 of Tuesday, respectively.
On the contrary, the rupee remained under pressure and was depreciated against the British pound. The pound’s buying and selling rates were improved from overnight closing of Rs 152.75 and Rs 153.00 to Rs 153.50 and Rs 153.75, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained strength against the dollar on the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 100.75 (buying) and Rs 101 (selling) against last rate of Rs 101 (buying) and Rs 101.25 (selling). It did not observe further change in the second session and closed at Rs 100.75 (buying) and Rs 101 (selling). Pound Sterling opened at Rs 152 (buying) and Rs 153 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 152 (buying) and Rs 153 (selling).