The rupee inched up against the dollar on the money market on Wednesday, dealers said. The rupee improved after gaining one-paisa in terms of the dollar for buying and selling at Rs 104.92 and Rs 104.94 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee depicted no change versus the dollar for buying and selling at Rs 106.10 and at Rs 106.40 respectively, they added. The rupee gave back overnight gains in relation to the euro, losing 20 paisa for buying and selling at Rs 116.00 and Rs 117.00 respectively, they added.
In the third Asian trade, the dollar retreated on Wednesday as crude oil prices descended to near 13-year lows, hitting risk asset markets and putting safe-haven currencies such as the Japanese yen back in favour. The dollar was down 0.4 percent at 117.20 yen. The greenback had risen as far as 118.115 overnight on a bounce in crude oil prices. But it gave up those gains after the rise in the battered commodity proved temporary.
The dollar also slipped against the Swiss franc, another safe haven. The euro rose 0.3 percent to $1.0937. With the ebb and flow in risk appetite having dictated movements in major currencies so far this year, the focus remained on the fortunes of the commodity and equity markets.
The dollar was trading against the Indian rupee at Rs 67.93, the greenback was at 4.3680 in relation to the Malaysian ringgit and the US currency was at 6.5798 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar: 78.50-78.50 (previous 78.50-78.50).
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Open Bid Rs 106.10
Open Offer Rs 106.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs 104.92
Offer Rate Rs 104.94
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RUPEE IN LAHORE: The rupee remained under pressure as it lost 10-paisa against the American dollar on Wednesday. The dollar restarted trading at its Tuesday closing of Rs 106.10 and Rs 106.35 as its buying and selling though ended higher at Rs 106.20 and Rs 106.45 on buying and selling.
The rupee was stronger against the pound sterling, whose buying and selling fell from the overnight closing of Rs 153.10 and Rs 154.10 to Rs 152.20 and Rs 153.40.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar further gained strength against the Pak rupee on 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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