THE RUPEE: modest recovery

The rupee managed to recover modestly against the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee was unchanged in relation to the dollar for buying and selling at Rs 115.61 and Rs 115.62, they said.
INTER-BANK MARKET RATES: In the third Asian trade, the dollar stood tall over the euro on Wednesday as concerns about Italian political turmoil hurt the common currency, with the greenback stabilising after briefly being stirred by US President Donald Trump's decision to exit a nuclear deal with Iran.
The euro was little changed at $1.1867 after sliding as low as $1.1838 overnight, its weakest since Dec. 22.
The common currency was a shade lower at 129.400 yen and on its eighth session of losses, having plumbed a six-week low of 129.240 on Tuesday.
The dollar was trading against the Indian rupee at Rs 67.340, the greenback was at 3.948 versus the Malaysian ringgit and the US currency was at 6.373 in relation to the Chinese yuan.
OPEN MARKET RATES: The rupee gained 40 paisas versus the dollar for buying and selling at Rs 117.70 and Rs 118.20, they said. The rupee picked up 10 paisas in term of the euro for buying and selling Rs 139.40 and Rs 141.00, they said.

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Open Bid       Rs.117.70

Open Offer     Rs.118.20

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.

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Bid Rate       Rs.115.61

Offer Rate     Rs.115.62

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RUPEE IN LAHORE: The Pak rupee recovered its earlier losses versus the US dollar on the local currency market on Wednesday.
The dollar resumed trading on a negative note following lack of buyers' interest on the market. Resultantly, it ended lower for buying and selling at Rs 117.50 and Rs 118.30 as compared to the overnight closing trend of Rs 117.75 and Rs 118.50 respectively, local currency dealers said.
On the contrary, the national currency remained under pressure for the third consecutive day against the pound sterling. The pound's buying and selling further rates drifted from Tuesday's closing of Rs 158.40 and Rs 159.60 to Rs 159.00 and Rs 160.00 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained Rs 1 against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 118 (buying) and Rs 118.50 (selling) against last rate of Rs 117 (buying) and Rs 117.50 (selling). It closed at Rs 118 (buying) and Rs 118.50 (selling).
Copyright Business Recorder, 2018