THE RUPEE: little changes

Slight changes were seen on the money market on Wednesday as the rupee almost managed to hold the overnight levels in process trading, they said. The rupee shed two paisa versus the dollar for buying and selling at Rs 101.78 and Rs 101.80, dealers said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee sustained overnight levels in terms of the dollar for buying and selling at Rs 102.65 and Rs 102.85 respectively, it also did not move any side against the euro for buying and selling at Rs 114.75 and Rs 115.75, they said.
In the third Asian trade, the euro was held hostage by the crisis in Greece while the dollar held firm after solid US housing data bolstered the case for the US Federal Reserve starting rate hikes as early as in September. The euro was little changed at $1.1261, having slipped from Tuesday's high of $1.1330. Although it remained in a familiar range between $1.11 and $1.14 in recent days, traders see this as the calm before storm rather than a sign of stability.
The dollar was trading against the Indian rupee at Rs 64.11, the greenback was at 3.7490 versus the Malaysian ringgit and the US currency was at 6.208 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday. 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 05.25-6.75 percent (Previous 05.25-06.75 percent.

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Open Bid       Rs.102.65

Open Offer     Rs.102.85

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

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Bid Rate       Rs.101.78

Offer Rate     Rs.101.80

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RUPEE IN LAHORE: The Pak rupee lost its worth in relation to the greenback and British pound at the local currency markets of Lahore on Wednesday.
According to the currency dealers, the greenback opened at Rs 102.65 (buying) and Rs 102.90 (selling) against Rs 102.55 and 102.80 on Tuesday. The greenback improved its worth and was closed at Rs 102.75 and Rs 103.10 on buying and selling counters, respectively. Likewise, the British pound was purchased and sold at Rs 160.00 and Rs 160.70 as against Rs 159.50 and Rs 159.75 on Tuesday.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 101.75 (buying) and Rs 101.85 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 101.75 (buying) and Rs 101.85 (selling). Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 155 (buying) and Rs 155.50 (selling).
Copyright Business Recorder, 2015