An upward trend persisted on the money market on Wednesday as the rupee maintained surge with gradual pace versus the dollar, dealers said. The rupee picked up three paisa against the dollar for buying at Rs 103.82 and it also gained 10 paisa for selling at Rs 103.85, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee appreciated by 30 paisa in terms of the dollar for buying and selling at Rs 105.00 and Rs 105.30, they added. The rupee also picked up five paisa in terms of the euro for buying at Rs 114.25 and it, however, shed 20 paisa for selling at Rs 115.50, they added.
In the third Asian trade, the currencies of major commodity producers such as Australia and Canada steadied on Wednesday, letting them nurse big losses suffered the past two days from a sell-off in oil and bulk commodities.
Most of the action this week has been confined to commodity currencies after OPEC members failed on Friday to agree on an oil production ceiling, triggering a renewed sell-off in oil.
The euro last traded at $1.0901, up 0.1 percent on the day, having pulled up from Tuesday's low around $1.0830. The US currency was trading against the Indian rupee at Rs 66.75, the dollar was available against the Malaysian ringgit at 4.2610 and the greenback was at 6.4237 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday. 78.94-78.95 (previous 78.94-78.95).
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Open Bid Rs.105.00
Open Offer Rs.105.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.103.82
Offer Rate Rs.103.85
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RUPEE IN LAHORE: The rupee failed to come out of food against the dollar on the local currency market on Wednesday.
Because of buyers' interest in the dollar purchasing, the rupee lost 25 paisas for buying and selling at Rs 105.25 and Rs 106.00 against the former as compared with the overnight closing of Rs 105.00 and Rs 105.75.
But the rupee did show strength and further improved against the pound sterling, which was traded at Rs 157.50 and Rs 158.50 on buying and selling counter against the Tuesday closing of Rs 157.75 and Rs 159.00.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar showed no major change against the Pak rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).
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