The rupee gained versus the dollar on the interbank market, however, it shed modestly on the open market on Wednesday in the process of trading, dealers said. The rupee gave up vulnerability in relation to the dollar, recovered eight paisa for buying and selling at Rs 98.88 and Rs 98.90, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, shed five paisa versus the dollar for buying at Rs 100.40 while, the national currency did not move any side for selling at Rs 100.60, they said. The rupee rose by 85 paisa in terms of the euro for buying at Rs 130.50 and Rs 130.75, they said.
In the third Asian trade, the dollar turned down against the yen as investors warily watched China's stressed markets, but the greenback got support from US economic data which backed the Federal Reserve's recovery view and bolstered US Treasury yields.
"Dollar strength as US bond yields rise is generally the bigger picture at the moment, certainly after last night's stronger US data," said Sue Trinh, senior currency strategist at RBC Capital Markets in Hong Kong. The dollar was trading against the Indian rupee at Rs 59.84, the US currency was 3.1960 in terms of the Malaysian ringgit and the greenback was at 6.148 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday: 77.75-77.76 (77.75-77.76). Call Money Rates: 05.50-07.10 percent (previous 05.50-07.50 percent).
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Open Bid Rs 100.40
Open Offer Rs 100.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs 98.88
Offer Rate Rs 98.90
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RUPEE IN LAHORE: The national currency showed stability and remained unchanged amid low trading activity on the local currency market on Wednesday. According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 100.50 and Rs 100.75 as its buying and selling rates, respectively. The dollar witnessed no change in its value during the day's trading and was closed at the opening level, the dealers said. Similarly, the Pak rupee stayed unchanged against the pound sterling. The pound was traded at its Tuesday closing of Rs 154.50 and Rs 155.00 on buying and selling counters, respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar was up by Re 1 against the rupee on the open currency markets of Islamabad and Rawalpindi here on Wednesday. The dollar opened at Rs 101 (buying) and Rs 101.10 (selling) against last rate of Rs 100 (buying) and Rs 100.10 (selling). It did not observe further change in the second session and closed at Rs 101 (buying) and Rs 101.10 (selling). Pound Sterling opened at Rs 153 (buying) and Rs 155 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.
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