THE RUPEE: minor changes

The rupee managed to gain slightly versus the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee picked up four-paisa for buying and selling at Rs 101.74 and Rs 101.76 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee was unmoved in relation to the dollar for buying and selling at Rs 102.40 and Rs 102.60 respectively, but it dropped by 85-paisa against the euro for buying and selling at Rs 114.60 and Rs 114.85 respectively, they said.

In the third session, the dollar slipped, staying on the defensive after disappointing US trade data for March painted an even bleaker picture of the economy in the first quarter.

The US trade deficit jumped 43.1 percent to $51.4 billion in March, the largest since October 2008, after a surge in imports. The dollar was trading against the Indian rupee at Rs 63.64, the greenback was at 3.5710 in terms of the Malaysian ringgit and the US currency was at 6.2010 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: 06.00-7.75 percent (Previous 06.00-08.00 percent).

Open Bid       Rs 102.40
Open Offer     Rs.102.60

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

Bid Rate       Rs.101.74
Offer Rate     Rs.101.76

RUPEE IN LAHORE: The rupee turned strong by gaining 15-paisa against the greenback on the local currency market on Wednesday.

The dollar remained under pressure following lacking buyers’ interest and at close of trading, the dollar ended lower at Rs 102.50 and Rs 102.75 on buying and selling side against Rs 102.65 and Rs 102.90 of Tuesday. The rupee kept falling for the second consecutive day and remained under pressure against the pound sterling whose buying and selling rates improved from the day earlier closing of Rs 154.60 and Rs 154.85 to Rs 155.30 and Rs 155.55.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at 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