No major changes were witnessed on the money market on Wednesday as the rupee firmly held the overnight levels against the dollar in the process of trading, dealers said. The rupee was almost unchanged in terms of the dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, they said.
INTERBANK MARKET RATES: In the third Asian trade, the dollar hovered near a 14-year high against the euro, supported by expectations of US interest rates rising more rapidly during the incoming Trump Administration. In thin trading ahead of year-end holidays, the euro last stood at $1.0413 after slipping below $1.0352 on Tuesday, a level last seen in January 2003. The weak euro helped to push the dollar's trade-weighted index against a basket of six major currencies to touch 103.65, also a 14-year high. The index was last at 103.30. "The dollar looks pretty strong. Although there are no fresh trading factors as we head into Christmas, we see dollar buying whenever the currency slips," said Shinichiro Kadota, chief forex strategist at Barclays.
The dollar was trading against the Indian rupee at Rs 67.91, the US currency was at 4.4770 versus the Malaysian ringgit and the greenback was at 6.9500 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday: 78.80-78.85 (previous 78.85-78.85).
OPEN MARKET RATES: The rupee managed to retain last levels versus the greenback for buying and selling at Rs 108.00 and Rs 108.20 respectively, they said. The rupee also sustained it's level in relation to the euro for buying at Rs 112.00, it, however, shed 50 paisas for selling at Rs 113.50, they said.
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Open Bid Rs.108.00
Open Offer Rs.108.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.104.84
Offer Rate Rs.104.85
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RUPEE IN LAHORE: The Pak rupee depreciated against the US dollar on buying side while it remained unchanged on selling side in the local currency market on Wednesday.
The trading of US dollar resumed at last closing of Rs 108.05 and Rs 108.30 as its buying and selling rates, respectively. The short supply of the dollar helped its appreciation at Rs 108.20 on buying counter. However, no change in the value of dollar took place as it sustained its overnight trend of Rs 108.30 on selling counter, they added.
Moreover, the local currency failed to sustain its worth versus the pound sterling. The pound's buying and selling rates improved from the day earlier closing rates of Rs 132.70 and Rs 133.70 to Rs 133.20 and Rs 134.20, respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at currency exchange shops of Islamabad and Rawalpindi here on Wednesday.
The dollar resumed trading at Rs 107 (buying) and Rs 107.50 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 107 (buying) and Rs 107.50 (selling).
Pound Sterling opened at Rs 135 (buying) and Rs 135.10 (selling) against same last week's rate. It did not observe further change in the second session and closed at Rs 135 (buying) and Rs 135.10 (selling).
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