THE RUPEE: Gains prevail

KARACHI: On Wednesday, upon market closing, Pakistan Rupee went up against USD in both interbank and open markets. However, it remained unchanged against Euro in open market. INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee gained 20 paisas for buying and 10 paisas for selling against USD over yesterday's rates closing at 163.80 and 164 respectively. OPEN MARKET RATES: In the open market, PKR remained unchanged for buying while gaining 10 paisas for selling over yesterday’s rates closing at 163.90 and 164.10 respectively. Against Euro, PKR remained unchanged for both buying and selling closing at 191.50 and 193 respectively. Against UAE Dirham, PKR gained 10 paisas for both buying and selling closing at 44.40 and 44.60 respectively.

Against Saudi Riyal, PKR gained 5 paisas for buying while remaining unchanged for selling closing at 43.30 and 43.50 respectively.

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Open Bid       Rs 163.90
Open Offer     Rs 164.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday

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Bid Rate       Rs 163.80
Offer Rate     Rs 164.00
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RUPEE IN LAHORE: The Pak rupee appreciated its worth versus major currencies including the greenback and the British pound in the local currency market on Wednesday. Following lack of buyers’ interest in the market for the second consecutive day, the greenback remained under selling pressure and ended further lower for buying and selling at Rs 163.80 and Rs 165.00 against the opening trend of Rs 164.00 and Rs 165.20 respectively, local currency dealers said. Likewise, the national currency showed strength as it recovered its day earlier losses against the pound sterling. As a result, the pound’s buying and selling rates declined from the Tuesday’s closing of Rs 211.70 and Rs 213.20 to Rs 210.50 and Rs 212.00 respectively, they 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 Rs164.40(buying) and Rs164.50(selling) against same last rate. It closed at Rs164.40(buying) and Rs164.50(selling). The buying and selling rates of one tola of gold was Rs. 115,300(selling) and Rs115,100(buying) at the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi. Copyright Business Recorder, 2020