THE RUPEE: dollar lower

The rupee managed to gain modestly against dollar on the currency market on Wednesday in process of trading, dealers said. The rupee posted fresh gain of 17 paisa in relation to the dollar for buying at 90.20 and it also picked up 16 paisa for selling at 90.24, they said.
INTERBANK MARKET: OPEN MARKET RATES: The rupee followed the same pattern in the open market as it rose versus dollar, gaining 20 paisa for buying and selling at 90.40 and 90.60, they said.
The rupee, however, fell sharply against euro, losing Rs 1.79 for buying and selling at Rs 115.98 and Rs 116.48, they said. In the third Asian trade euro struggled to maintain gains, as short-covering after recent lows was tempered by caution ahead of Greek debt talks and a Portuguese bond auction later in the session.
The single currency rose 0.2 percent to $1.2775, pulling well away from a 17-month low around $1.2624 set on Friday, but easing from a session high of $1.2787. The dollar was trading versus the Indian rupee at Rs 50.65, the greenback was at 3.1183 in relation to the Malaysian ringgit and dollar was available at 6.3142 versus the Chinese yuan, adds Reuters.

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Open Buying     Rs.90.40

Open Selling    Rs.90.60

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

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Buying          Rs.90.20

Selling         Rs.90.24

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RUPEE IN LAHORE: The rupee-dollar parity remained unchanged amid low trading activity in the local currency market on Wednesday.
According to the currency dealers, there was no change in the dollar's demand and supply situation that helped rupee stability in the open market. The dollar was traded at its overnight closing of Rs 90.80 and Rs 91.20, as its buying and selling rates, respectively.
Similarly, the rupee stayed unchanged on buying side, while it gained 50-paisa on selling side in relation to the pound sterling. The pound's buying rate remained intact at Rs 139.50, while its selling rate was declined from Tuesday closing of Rs 140.50 to Rs 140.00, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 89 (buying) and Rs 89.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 89 (buying) and Rs 89.20 (selling).
Pound Sterling opened at Rs 138 (buying) and Rs 138.90 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 138 (buying) and Rs 138.90 (selling).
Copyright Business Recorder, 2012