THE RUPEE: all-round slides


The rupee fell against the dollar and euro on the local currency market on Wednesday in the process of trading, dealers said. The rupee shed 10-paisa in terms of the dollar for buying and selling at Rs 101.80 and Rs 101.83 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also lost 20-paisa in relation to the dollar for buying and selling at Rs 102.50 and Rs 102.70, they said. The rupee also dropped by 25 paisa in terms of the euro for buying and selling at Rs 108.50 and Rs 108.75, they said.

In the third Asian trade, the dollar stood steady just hours before the Federal Reserve was expected to take a major step toward lifting interest rates for the first time in almost nine years.

The dollar was trading against the Indian rupee at Rs 62.68, the greenback was at 3.7000 versus the Malaysian ringgit and the US currency was at 6.2378 in terms of the Chinese yuun. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 07.00-8.00 percent (Previous 07.00-08.00 percent).

========================
Open Bid       Rs 102.50
Open Offer     Rs 102.70
========================

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

========================
Bid Rate       Rs.101.80
Offer Rate     Rs.101.83
========================

RUPEE IN LAHORE: The rupee continued its rising trend and gained five paisas against the US dollar on the local currency market on Wednesday.

Currency dealers said the dollar resumed trading at its overnight closing of Rs. 102.40 and Rs. 102.65 as its buying and selling rate, respectively. In the absence of buyers’ interest, the dollar failed to sustain and ended lower at Rs 102.35 and Rs 102.60 on buying and selling side, respectively. The rupee remained strong and was appreciated against the pound sterling. The pound was traded at Rs 149.75 and Rs 150.00 on buying and selling counter compared with Tuesday closing of Rs. 151.25 and Rs. 151.50, respectively, the dealers said.

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 101.75 (buying) and Rs 101.85 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 101.75 (buying) and Rs 101.85 (selling).

Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 155 (buying) and Rs 155.50 (selling).

Recorder Report