Marginal fluctuations were witnessed in the value of the rupee versus the dollar despite strong demand for forward buying of the US currency, dealers said. The rupee inched up by one paisa against the dollar for buying and selling at Rs 98.39 and Rs 98.41, they added.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee did not show any change versus the dollar for buying and selling at Rs 99.00 and Rs 99.25, they said. The rupee extended its slide, dropping Rs 1.5 against the euro for buying and selling at Rs 126.25 and Rs 126.50, they added.
In the euro stayed near a four-month low against the dollar on Wednesday as fears about the currency bloc's financial stability festered in the wake of the Cyprus rescue deal, while the yen dropped on stronger hopes for bond buying by the Bank of Japan. The euro dropped 0.1 percent to $1.2849, not far from the four-month low of $1.2828 hit on Tuesday.
In the early NY trade, the euro fell to its lowest level against the dollar in over four months on Wednesday, weighed by a weak Italian bond auction and concerns that Cyprus's recent rescue deal could serve as a template for future bailouts.
The dollar was trading against the Indian rupee at Rs 54.37, the greenback was at 3.0985 in terms of Malaysian ringgit and the US currency was available at 6.2130 in terms of Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday: 78.20-78.22 (78.25-78.26). Call Money Rates: 06.75-07.25 percent (previous 06.00-07.50 percent.
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Open Bid Rs 99.00
Open Offer Rs 99.25
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.98.39
Offer Rate Rs.98.41
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RUPEE IN LAHORE: The Pak rupee improved against the US dollar and British pound on the local currency market on Wednesday. According to the currency dealers, the dollar was opened on a negative sign and remained under pressure during the day. On close of trading, the dollar was ended at Rs 99.00 and Rs 99.25 as its buying and selling rates against the overnight closing of Rs 99.20 and Rs 99.35, respectively.
The rupee was appreciated on buying side but remained unchanged on selling side (Rs 150) in relation to the pound sterling. The pound's buying rate was declined from the overnight closing of Rs 149.75 to Rs 147.50 while its selling rate remained unchanged at Rs 150.00, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Wednesday. The dollar opened at Rs 99.20 (buying) and Rs 99.30 (selling) against same last rate. It closed on same period of Rs 99.20 (buying) and Rs 99.30 (selling) by the end of second session. Pound Sterling opened at Rs 154 (buying) and Rs 155 (selling) against same last rate. It closed at the same rate without further change in the evening session.
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