THE RUPEE: upward trend


The rupee improved with modest gains against the dollar on the local currency market on Wednesday, dealers said. The rupee rose by four-paisa in terms of the dollar for buying and selling at Rs 101.88 and Rs 101.90 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee followed the same pattern, gaining 10-paisa versus the dollar for buying and selling at Rs 101.90 and Rs 102.10 respectively, while it picked up 50-paisa in relation to the euro for buying and selling at Rs 113.25 and Rs 113.50 respectively, they said.

In the third Asian session, the dollar held firm near an 11-year high versus a basket of major currencies, as investors awaited US economic data and a European Central Bank meeting later this week for fresh clues on policy direction. The dollar-index edged up 0.1 percent to 95.451 points. On Tuesday it had touched a high of 95.570, its strongest level since September 2003.

The dollar was trading against the Indian rupee at 61.92, the greenback was at 3.6270 in terms of the Malaysian ringgit and the US currency was available at 6.2708 versus the Chinese yuan. 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).

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Open Bid       Rs 101.90
Open Offer     Rs 102.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.

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Bid Rate       Rs 101.88
Offer Rate     Rs 101.90
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RUPEE IN LAHORE: The dollar-rupee parity remained unchanged at the currency markets of Lahore on Wednesday.

According to the currency dealers, the greenback opened at Rs 101.90 (buying) and Rs 102.15 (selling) against Rs 101.85 and Rs 102.10 on Tuesday.

The greenback witnessed decline in its worth and was closed at Rs 101.85 and Rs 102.10 on buying and selling counters, respectively. However, some of the dealers quoted selling rate of the dollar as Rs 101.80.

On the other hand, the British pound was purchased and sold at Rs 155.80 and Rs 156.35 as against Rs 156.25 and Rs 156.50 on Tuesday.

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

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