The rupee crossed barriers of 106 marks against the dollar on the money market on Wednesday, dealers said. The rupee gained seven paisas in relation to the dollar for buying and selling at Rs 104.76 and Rs 104.78 respectively, they said.
INTERBANK MARKET RATES: In the third Asian trade, most emerging Asian currencies gained on Wednesday as the dollar retreated from a near nine-month peak, while regional units struggled to sustain the momentum due to growing expectations of a US Federal Reserve interest rate hike in December.
The yuan rose after China's central bank set its daily guidance rate higher, reflecting the greenback's slide. The dollar was trading against the Indian rupee at Rs 66.80, the greenback was available at 4.1580 versus the Malaysian ringgit and US currency was at 6.7698 versus the Chinese yuan.
OPEN MARKET RATES: The rupee shed 10 paisas versus the dollar for buying and selling at Rs 105.80 and Rs 106.00 respectively, while it sustained overnight level in terms of the euro for buying and selling at Rs 115.30 Rs 116.80 respectively, they said.
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Open Bid Rs.105.80
Open Offer Rs.106.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.104.76
Offer Rate Rs.104.78
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RUPEE IN LAHORE: The rupee showed strength and remained unchanged on buying side while it continued to maintain downward slide as it lost 10-paisa on selling side against the US dollar in the local currency market on Wednesday.
According to the currency dealers, the US dollar resumed trading against its Tuesday's closing of Rs 106.00 and Rs 106.15 as its buying and selling rates, respectively. The dollar did not witness any change in its buying rate that continued to prevail till close of trading. However, its selling rate further drifted up and ended at Rs 106.25, respectively.
On the other hand, the rupee registered a considerable gain in relation to the pound sterling on buying side but remained unchanged on the selling side. The British currency was bought and sold at Rs 128.70 and Rs 129.40 against the overnight closing of Rs 129.00 and Rs 129.40, 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 105 (buying) and Rs 105.10 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 105 (buying) and Rs 105.10 (selling).
Pound Sterling opened at Rs 132 (buying) and Rs 133 (selling). It did not observe further change in the second session and closed at Rs 132 (buying) and Rs 133 (selling).
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