The rupee moved up against the dollar in the interbank market, while, the national currency was inert on the open market on Wednesday, dealers said.
INTER-BANK MARKET RATES: The rupee gained 14 paisas in relation to the dollar for buying and selling at Rs 104.70 and Rs 104.72, dealers said.
OPEN MARKET RATES: The rupee did not move versus the dollar for buying and selling at Rs 105.90 and Rs 106.10, they said. The rupee shed five paisas in terms of the euro for buying and selling at Rs 118.30 and Rs 119.30, they added.
In the third Asian trade, the dollar struggled near 6-week lows against a basket of currencies on Wednesday due expectations that the US Federal Reserve will raise interest rates later rather than sooner. The dollar's softness followed a weak showing by Wall Street overnight, with indexes suffering their worst day in roughly a month in the wake of unconvincing economic data and falling oil prices. The dollar was trading against the Indian rupee at Rs 66.77, the greenback was available at 4.0620 in terms of the Malaysian ringgit and the US currency was at 6.6284 in relation to 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.105.90
Open Offer Rs.106.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.104.70
Offer Rate Rs.104.72
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RUPEE IN LAHORE: The rupee remained under pressure and drastically declined against the US dollar on the local currency market on Wednesday.
According to the currency dealers, the dollar commenced trading on a healthy note and registered gain during the day's trading.
Following buyers' interest, the dollar ended higher and closed at Rs 106.50 and Rs 106.80 on buying and selling sides against the Tuesday's closing of Rs 105.40 Rs 106.30, respectively.
The rupee failed to continue rising trend and depreciated on buying side while it stayed unchanged on selling side in relation to the pound sterling that was bought and sold at Rs 140.40 and Rs 141.00 compared with the overnight closing of Rs 134.28 and Rs 141.00, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at local currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 104.50 (buying) and Rs 105 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 104.50 (buying) and Rs 105 (selling).
Pound Sterling opened at Rs 137.50 (buying) and Rs 138 (selling). It did not observe further change in the second session and closed at Rs 137.50 (buying) and Rs 138 (selling) by the end of second session.
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