Firmness prevailed on the money market on Wednesday as the rupee maintained overnight levels versus the dollar in process of trading, dealers said. The rupee did not show any visible change versus the dollar for buying and selling at Rs 105.47 and Rs 105.48, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The national currency held the overnight levels against the dollar for buying and selling at Rs 107.20 and Rs 107.40, they said. The rupee almost sustained the overnight levels in terms of the euro for buying and selling at Rs 125.75 and Rs 126.75, they said.
In the third Asian trade, the dollar treaded water against its peers on Wednesday, capped as US Treasury yields failed to rise despite increasing investor risk appetite in broader financial markets.
The dollar index against a basket of six major currencies was little changed at 93.941. The index fell back from a one-week high of 94.165 overnight after a rally triggered earlier this week by a sagging euro stalled as long-term US Treasury yields continued inching lower.
The greenback was a shade lower at 112.280 yen, after slipping overnight from a high of 112.705.
"The dollar should be getting more of a lift against the yen in this 'risk on' environment. But what is taking precedence is the adjustment of positions before the Thanksgiving and year-end holidays by participants, resulting in the covering of yen shorts," said Yukio Ishizuki, senior currency strategist at Daiwa Securities.
Wall Street shares rose yet again to record highs on Tuesday, while Japan's Nikkei climbed back towards 26-year peaks.
The dollar was trading against the Indian rupee at Rs 64.75, the greenback was at 4.121 versus the Malaysian ringgit and the US currency was available at 6.621 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 81.50-81.60 (previous 81.40-81.40).
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Open Bid Rs.107.20
Open Offer Rs.107.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.105.47
Offer Rate Rs.105.48
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RUPEE IN LAHORE: The Pak rupee registered reduction versus the major foreign currencies including the greenback and British pound in the local currency market on Wednesday.
According to currency dealers, the short supply phenomenon of the greenback helped its appreciation at Rs 107.35 and Rs 107.55 for buying and selling, respectively, as compared to the overnight closing trend of Rs 107.25 and Rs 107.45 respectively.
Likewise, the national currency also followed the same suit in relation to the pound sterling.
The pound's buying and selling rates rose from Tuesday's closing of Rs 141.00 and Rs 142.20 to Rs 141.20 and Rs 142.30 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed improvement against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 107.40 (buying) and Rs 107.50 (selling) against last rate of Rs 107.60 (buying) and Rs 107.70 (selling). It closed at Rs 107.40 (buying) and Rs 107.50 (selling).
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