The rupee drifted lower against the dollar in the interbank dealings while, it showed no change versus the greenback on the open market on Wednesday, dealers said. The rupee shed five paisa in relation to the dollar for buying and selling at 90.77 and 90.79, they said.
INTERBANK MARKET: OPEN MARKET RATES: The rupee remained unchanged in terms of the dollar for buying and selling at 90.80 and 91.00, they said. While, the rupee appreciated sharply versus the euro for buying at Rs 118.21 and selling at Rs 118.71, they added. In Asian trade, the dollar hit an 11-month high against the yen and 1-month high against the euro on Wednesday, extending its gains after a modest brightening of the Federal Reserve's economic forecasts nudged traders to downplay expectations of further monetary easing.
The US 2-year Treasury yields hit a 7-1/2-month high after solid retail sales data, making the dollar less attractive as a funding currency for carry trades. Tokyo exporters were also reluctant to sell the dollar now, expecting more strength, traders said. Interbank buy/sell rates for the taka against the dollar on Wednesday: 81.75-81.80 (previous 81.76-81.79).
Call Money Rates: 11.00-13.50 percent (previous 07.00-14.00 percent). The yuan closed lower versus the dollar on Wednesday, weakening 0.61 percent this month as the People's Bank of China (PBOC) pushed forward with more active two-way trading of the Chinese currency via its mid-point. Spot yuan closed at 6.3323 against the dollar, weaker than 6.3270 at Tuesday's close and dropping 0.61 percent from 6.2936 at the end of last month - about the same amount of loss the PBOC has permitted for its midpoint in the same period. The dollar was trading against the Indian rupee at Rs 49.92 and at 3.0450 in terms of the Malaysian ringgit.
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Open Buying Rs 90.80
Open Selling Rs 91.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Buying Rs 90.77
Selling Rs 90.79
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RUPEE IN LAHORE: The Pak rupee remained under pressure and was depreciated on buying side while it remained unchanged on selling side against the US dollar in the open currency market on Wednesday. According to the currency dealers, the dollar resumed trading at its overnight closing of Rs 90.75 and Rs 91.00 as its buying and selling rate. The dollar showed strength and was ended higher at Rs 90.90 on buying counter while it stayed unchanged at Rs 91.00 on selling counter, respectively.
Likewise, the rupee could not maintain its day earlier position and was declined against the pound sterling. The pound was purchased and sold at Rs 142.00 and Rs 142.50 as compared to Tuesday closing of Rs 141.50 and Rs 142.25, respectively, the dealers added.
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 Rs 91 (buying) and Rs 91.20 (selling) against same previous rate. It did not observe any further change in the second session and closed at Rs 91 (buying) and Rs 91.20 (selling).
Pound sterling opened at Rs 142 (buying) and Rs 142.50 (selling) against same previous rate. It did not observe further change in the evening session and closed at Rs 142 (buying) and Rs 142.50 (selling).
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