Bears dominated the interbank market on Wednesday as dollar's demand persisted in process of trading, dealers said. The rupee came under pressure versus the dollar, shedding 10-paisa for buying at 94.6 and it fell by 11-paisa for selling at 94.62, they said.
INTERBANK MARKET: OPEN MARKET RATES: The rupee however gained 10-paisa against the dollar for buying and selling at 95.5 and 95.7, they said. The rupee rose by 40-paisa against the euro for buying and selling at 118.8 and Rs 119.8, they said.
In the third Asian trade, the euro inched higher after hitting a two-week low the previous day, but gains were halted by scepticism that a European summit would deliver concrete measures to ease the region's debt crisis. The rupee settled at 57.15/16, compared to Tuesday's close of 57.01/02, and bringing it close to a record closing low of 57.16 hit on June 22. Bangladesh interbank buy/sell rates for the taka against the dollar on Wednesday. 81.81-81.83 (previous 81.83-81.87) Call Money Rates: 9.60-15.00 percent (previous 9.60-15.00 percent). Spot yuan continued to trade within a narrow range for a second day, opening within 12 pips of Tuesday's close then gradually firming to close at 6.3554, up about 1.7 percent from its opening price.
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Open Buying Rs.95.50
Open Selling Rs.95.70
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Open Market Rates: InterBank Market for Dollar on Tuesday.
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Buying Rs.94.60
Selling Rs.94.62
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RUPEE IN LAHORE: The Pak rupee failed to maintain upward trend and lost 30-paisa on buying side and 20-paisa on selling side against the US dollar in the local currency market on Wednesday.
According to the currency dealers, the dollar witnessed fresh demand that helped its appreciation on the open market. At the end of trading, the dollar was ended higher at Rs 95.7 and Rs 96.2 as its buying and selling rates against the Tuesday closing of Rs 95.4 and Rs 96 respectively, the dealers said.
However, the rupee remained weak on buying side but showed strength on selling side in relation to the pound sterling. The pound was purchased and sold at Rs 148.3 and Rs 148.6 as compared to overnight closing of Rs 148 and Rs 149 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 94.2 (buying) and Rs 94.4 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 94.2 (buying) and Rs 94.4 (selling). Pound Sterling opened at Rs 147 (buying) and Rs 147.5 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 147 (buying) and Rs 147.5 (selling).
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