The rupee shed modestly against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee drifted lower by five-paisa versus the dollar for buying and selling at Rs 102.80 and Rs 103.00 respectively, however it recovered 45-paisa against the euro for buying and selling at Rs 113.75 and Rs 114.75, respectively, they said.
OPEN MARKET RATES: In the third Asian trade, the euro slipped with Greece’s fate still hanging in the balance after it became the first advanced economy to ever be in arrears to the International Monetary Fund.
The common currency eased 0.2 percent to $1.1128, having suffered a 0.8 percent drop on Tuesday. It has been choppy between $1.0955 and $1.1279 this week in reaction to ever-changing developments in Greece. Against the yen, the euro stood almost flat at 136.38, after having fallen nearly 1 percent on Tuesday. The dollar was trading against the Indian rupee at Rs 63.65, the greenback was available at 3.7350 in terms of the Malaysian ringgit and the US currency was at 6.201 in relation to the Chinese yuan.
Open Bid Rs.102.80
Open Offer Rs.103.00
RUPEE IN LAHORE: The rupee marginally improved by five paisas against the dollar resuming trading at its day earlier closing of Rs 102.65 and Rs 102.90 as its buying and selling rate.
In the absence of buyers’ interest, the dollar hardly hold firm and eventually declined to Rs 102.60 and Rs 102.85 on buying and selling side, respectively, but the rupee failed to maintain its upward slide and depreciated against the pound sterling, which was traded at Rs 160.60 and Rs 160.85 on buying and selling counter compared with the overnight closing of Rs 160.50 and Rs 160.75.
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).