The rupee managed to recover modestly against the dollar on the money market on Wednesday, dealer said. The rupee managed to recover eight paisa versus the dollar for buying and selling at Rs 104.58 and Rs 104.60, dealer said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee stayed put in relation to the dollar for buying and selling at Rs 104.80 and Rs 105.00, they said. The rupee, however, lost 20 paisas against the euro for buying and selling at Rs 117.50 and Rs 118.50, they added.
In the third Asian trade, Britain might vote next week to leave the European Union, while investors stayed cautions ahead of a Federal Reserve's policy decision later in the global day.
The euro was flat at $1.1201 after sliding 0.8 percent overnight to an 11-day low of $1.1189, in a slide that took it from a one-month high of $1.1416 scaled last week. Germany's 10-year bund yield turned negative for the first time on Tuesday after a series of opinion polls showed a big lead for the "leave" camp in Britain's EU referendum.
"The euro falling against the dollar shows the impact negative German bond yields are having. The markets have to brace for the European Union falling into dysfunction if Britain leaves," said Junichi Ishikawa, forex analyst at IG Securities in Tokyo.
The dollar was trading against the Indian rupee at Rs 67.21, the greenback was at 4.0990 versus the Malaysian ringgit and the US currency was available at 6.5945 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday. 78.40-78.40 (previous 78.40-78.40).
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Open Bid Rs.104.80
Open Offer Rs.105.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.104.58
Offer Rate Rs.104.60
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RUPEE IN LAHORE: The rupee remained under pressure in relation to the US dollar on the local currency market on Wednesday.
The dollar resumed trading at its Tuesday's closing of Rs 105.10 and Rs 105.30 on buying and selling sides, respectively. Following buyers' interest, the dollar registered gain and ended higher at Rs 105.30 and Rs 105.50 on buying and selling side, respectively, the currency dealers said.
Similarly, the rupee failed to maintain upward trend on buying side while it remained unchanged on selling side against the pound sterling that was purchased and sold at Rs 149.70 and Rs 150.50 on buying and selling sides as compared with the overnight closing of Rs 149.50 and Rs 150.50, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered against the dollar at local currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar shed 10 paisas against the rupee at Rs 105.50 (buying) and Rs 106 (selling) against last rate of 105.60 (buying) and Rs 106.10 (selling). It did not observe further change in the last trading hours and closed at the same rates. Pound Sterling opened at Rs 151.60 (buying) and Rs 152 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 151.60 (buying) and Rs 152 (selling).
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