THE RUPEE: modest recovery

The rupee recovered modest ground against the dollar on the local money market on Wednesday in the process of trading, dealers said. The rupee gained six-paisa in relation to the dollar for buying and selling at Rs 101.89 and Rs 101.90 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee did not show any variation versus the dollar for buying and selling at Rs 103.30 and Rs 103.50 respectively; however, it shed 20-paisa versus the euro for buying and selling at Rs 114.00 and Rs 115.00 respectively, they said.

In the third Asian trade, the US dollar eased 0.2 percent against a basket of major currencies to 96.861, taking a breather after having risen over the past several sessions. Against the yen, the dollar held steady at 124.35 yen. The euro rose 0.3 percent to $1.1050, inching away from a one-week low near $1.1016 that had been set on Tuesday.

The dollar was available against the Indian rupee at Rs 65.28, the greenback was at 4.1070 in terms of the Malaysian ringgit and the US currency was at 6.3991 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: 05.30-6.50 percent (Previous 05.30-06.50 percent).

Open Bid       Rs.103.30
Open Offer     Rs.103.50

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

Bid Rate       Rs.101.89
Offer Rate     Rs.101.90

RUPEE IN LAHORE: The rupee kept falling for the third consecutive day and depreciated against the American dollar on the local currency market on Wednesday.

Currency dealers said the rupee remained weak and declined by 15-paisa on buying side at Rs 103.80 and 20-paisa on selling side at Rs 104.20 against the dollar compared with the day earlier closing of Rs 103.65 and Rs 104.00, respectively.

The rupee stayed unchanged on the buying side while it lost 20-paisa on the selling side against the pound sterling which was purchased and sold at Rs 161.10 and Rs 161.70 against Rs 161.10 and Rs 161.50 of Tuesday, respectively, the dealers added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee on the open currency markets of Islamabad and Rawalpindi here on Wednesday.

The dollar opened at Rs 102 (buying) and Rs 102.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 102 (buying) and Rs 102.20 (selling). Pound Sterling opened at Rs 157 (buying) and Rs 157.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 157 (buying) and Rs 157.50 (selling).

Recorder Report