Divergent trend was witnessed on the money market on Wednesday amid mixed exchange of views over the announcement of 2013-14 budget, dealers said. The rupee gained two paisa against the dollar for buying and selling at Rs 98.53 and Rs 98.55 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: In contrast, the rupee shed five paisa in terms of the dollar for buying and selling at 99.70 and 99.90 respectively, they said. While, the rupee was unchanged against the euro for buying at Rs 131.90 and Rs 132.15, they said.
In the third Asian trade, the dollar clawed back against the yen after suffering its biggest drop in three years the previous day when investors' unwound bearish yen bets as the Bank of Japan held off from introducing fresh steps to curb bond market volatility.
The dollar bounced 0.8 percent from late US levels to 96.77 yen after sinking as low as 95.60 in the previous session and closing down 2.7 percent to chalk up its biggest one-day fall since May 2010, according to the EBS platform. The dollar was trading against the Indian rupee at Rs 58.02, the greenback was at 3.1355 versus the Malaysian ringgit and the US currency was at 6.1335 in relation to the yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday: 77.75-77.76 (77.75-77.76). Call Money Rates: 05.50-07.00 percent (previous 05.50-07.50 percent).
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Open Bid Rs 99.70
Open Offer Rs 99.90
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs 98.53
Offer Rate Rs 98.55
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RUPEE IN LAHORE: The Pak rupee-dollar parity remained unchanged amid low trading activity on the local currency market on Wednesday.
According to the currency dealers, there was no change in the dollar's demand and supply situation that helped rupee stability. The dollar was traded at its overnight closing of Rs 99.80 and Rs 100.00 as its buying and selling rate, respectively.
However, the rupee maintained downward slide and was further declined against the British pound. The pound's buying and selling rates were improved from Tuesday closing of Rs 154.30 and Rs 155.00 to Rs 155.30 and Rs 156.00, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed a recovery of 40 paisa against the dollar on the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 99.40 (buying) and Rs 99.60 (selling) against last rate of Rs 99.80 (buying) and Rs 100 (selling). It did not observe further change in the second session. It closed at Rs 99.40 (buying) and Rs 99.50 (selling) in the second session.
Pound Sterling opened at Rs 151.70 (buying) and Rs 155 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.
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