THE RUPEE: recovering some lost ground

The rupee gave up its overnight weakness against the dollar on Wednesday in the process of trading, dealers said. The rupee gained seven-paisa against the dollar for buying and selling at Rs 105.46 and 105.48 respectively, they said.
INTERBANK MARKET RATES: In the third Asian trade, the euro nursed broad losses as political uncertainty in Portugal provided an excuse to sell in a market already bracing for further monetary policy easing from the European Central Bank. The common currency last stood at $1.0724, having slid below $1.0700 for the first time in over six months overnight. It fell as far as $1.0674 after breaking below Friday's trough of $1.0704.
The dollar was trading against the Indian rupee at Rs 66.31, the US currency was at 4.3620 in terms of the Malaysian ringgit and the greenback was available at 6.3623 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 78.40-78.41 (previous 78.28-78.34).
OPEN MARKET RATES: The rupee picked up 40-paisa in terms of the dollar for buying and selling at Rs 106.10 and Rs 106.30 respectively however it fell sharply by Rs 1.15 versus the euro for buying and selling at Rs 113.25 and Rs 114.25 respectively, they added.

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Open Bid       Rs 106.10

Open Offer     Rs.106.30

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

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Bid Rate       Rs.105.46

Offer Rate     Rs.105.48

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RUPEE IN LAHORE: The rupee bounced back against the dollar on the local currency market on Wednesday, dealers said.
Currency dealers said that the dollar trading resumed at Rs 106.65 and 106.90 on the buying and selling counters as against Rs 106.75 and Rs 107 of Tuesday. During Wednesday's trading, the rupee improved and ended at Rs 106.20 and Rs 106.50 as its buying and selling rates, respectively.
The British pound was traded at Rs 160.50 and Rs 161 on the buying and selling counters, respectively, as compared with the overnight closing rates of Rs 160.30 and Rs 161, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar further gained strength against the Pak rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday. The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against overnight value of Rs 105 (buying) and Rs 105.20 (selling). It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (selling). Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).
Copyright Business Recorder, 2015