The rupee drifted lower against the dollar on the money market on Wednesday in the process of trading activity, dealers said. The rupee held the overnight levels in relation to the dollar for buying and selling Rs 115.61 and Rs 115.62 respectively, they said.
INTER-BANK MARKET RATES: In the third Asian trade, the euro was buried near multi-month lows against major rivals on Wednesday as Italy's political crisis deepened, raising the likelihood of an early election that some market players fear could lead to a eurosceptic government in Rome.
Sources close to some of Italy's main parties said there was now a chance that President Sergio Mattarella could dissolve parliament in the coming days and send Italians back to the polls as early as July 29.
The euro, which slipped to a 10-month low of $1.1510, on Tuesday, and last stood at $1.1542, little moved in Asian trade. It has fallen 4.5 percent so far this month.
The euro dropped 1.0 percent against the safe-haven Swiss franc on Tuesday, its biggest daily fall since September, and last stood at 1.1445 francs.
The dollar was available against the Indian rupee at Rs 67.780, the greenback was at 3.993 in terms of the Malaysian ringgit and the US currency was at 6.426 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 83.70-83.70 (Previous 83.70-83.70).
OPEN MARKET RATES: The rupee shed 10 paisas in terms of the dollar for buying and selling at Rs 118.30 and Rs 118.80 respectively, they said. The rupee also lost Rupee one versus the euro for buying and selling at Rs 137.50 and Rs 139.00 respectively, they said.
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Open Bid Rs.118.30
Open Offer Rs.118.80
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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 further depreciated on buying side whereas it stayed firmed on selling side in relation to the greenback in the local currency market on Wednesday.
According to currency dealers, the greenback resumed trading on its overnight closing of Rs 118.20 and Rs 118.80 as its buying and selling rates respectively. At the close, it maintained rising trend for another day and ended higher for buying at Rs 118.60. However, it firmly held its opening trend for selling, they added.
The national currency, however, failed to sustain its earlier recoveries versus the British pound. The pound's buying and selling rates rose from Tuesday's closing of Rs 156.50 and Rs 157.50 to Rs 156.90 and Rs 157.80 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs118.50 (buying) and Rs 118.60 (selling) against same last rate. It closed at Rs118.50 (buying) and Rs 118.60 (selling).
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