The rupee did not show any change against the dollar on the money market on Wednesday, dealers said. The rupee did not move any side versus the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectively.
INTER-BANK MARKET RATES: In the third Asian trade, the dollar edged up against a basket of major peers as bargain hunters stepped in after the dollar slid overnight to a seven-week low, reflecting mounting concerns that the United States was poised to ditch a two decade-old "strong dollar" policy.
The dollar was up 0.4 percent at 113.260 yen after dropping overnight to a two-month low of 112.080. The greenback had sunk the previous day as Trump and trade adviser Peter Navarro criticised Germany, Japan and China, saying the trading partners were engaged in devaluing their currencies to US disadvantage.
"Every other country lives on devaluation," Trump said. "You look at what China's doing, you look at what Japan has done over the years. They play the money market, they play the devaluation market and we sit there like a bunch of dummies."
Despite Trump's blunt statement, which increased the prospect of Washington reversing the "strong dollar" policy advocated by presidents dating back to the Clinton administration, the US currency still attracted good demand.
The dollar was trading against the Indian rupee at Rs 67.63, the greenback was at 4.4280 in terms of the Malaysian ringgit and the US currency was at 6.8807.
Inter bank buy/sell rates for the taka against the dollar on Wednesday: 79.12-79.12 (previous 79.0950-79.1000).
OPEN MARKET RATES: The rupee held the overnight levels firmly in relation to the dollar for buying and selling at Rs 107.70 and Rs 107.90 respectively, they said. The rupee extended overnight declines in terms of the euro, shedding 75 paisas for buying and selling at Rs 116.00 and Rs 117.50 respectively, they said.
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Open Bid Rs.107.70
Open Offer Rs.107.90
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.104.85
Offer Rate Rs.104.86
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RUPEE IN LAHORE: The Pak rupee recovered marginally on buying side while it remained unchanged on selling side against the greenback in the local currency market here on Wednesday.
According to currency dealers, the trading of the greenback resumed on its overnight closing rates of Rs 108.00 and Rs 108.20 as its buying and selling rates, respectively.
At the close, it declined its worth to Rs 107.95 on buying counter. However, no change in its value took place for another day as it sustained its overnight trend of Rs 108.20 on selling counter, respectively, they added.
Moreover, the local currency failed to sustain as it registered a drastic decline versus the pound sterling. The pound's buying and selling rates rose from the Tuesday's closing rates of Rs 133.60 and Rs 135.00 to Rs 135.00 and Rs 136.00, respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of dollar against the rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 108.30 (buying) and Rs 108.40 (selling) against same last rate and greenback closed at the same rate.
Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It did not observe further change in the second session and closed at Rs 130 (buying) and Rs 131.50 (selling).
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