The rupee maintained it's upward trend versus the dollar on the money market on Wednesday in process of trading, dealers said. The rupee did not move any side in relation to the dollar for buying and selling at Rs 105.44 and Rs 105.45 they said. In the third Asian trade, the dollar slipped broadly on Wednesday, hurt by a media report that suggested the implementation of a centrepiece corporate tax cut under discussion in US tax reforms plans could be delayed.
INTER-BANK MARKET RATES: The Washington Post, citing unidentified sources, reported on Tuesday that Senate Republican leaders are considering a one-year delay in the implementation of a major corporate tax cut to comply with Senate rules.
The dollar was down 0.2 percent at 113.800 yen, falling away from an eight-month high of 114.735 touched on Monday.
The euro rose 0.1 percent to $1.1597, bouncing modestly from a three-month low of $1.1553 plumbed overnight.
The common currency has slipped steadily over the past few weeks, pressured by the divergence in the monetary policies of the European Central Bank and the Federal Reserve.
The dollar index against a basket of six currencies dipped 0.1 percent to 94.844 as US Treasury yields continued to decline.
The dollar was trading against the Indian rupee at Rs 65.06, the greenback was at 4.227 versus the Malaysian ringgit and the US currency was available at 6.636 in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday. 80.95-81.00 (previous 80.94-80.95.
OPEN MARKET RATES: The rupee gained 10 paisas versus the dollar for buying and selling at Rs 107.20 and Rs 107.40, they said. The rupee, however, shed 20 paisas in terms of the euro for buying and selling at Rs 124.00 and Rs 125.05, they said.
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Open Bid Rs.107.20
Open Offer Rs.107.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.105.44
Offer Rate Rs.105.45
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RUPEE IN LAHORE: The rupee remained strong for the third consecutive day versus the US dollar in the local currency market on Wednesday.
According to currency dealers, the dollar commenced trading on depressing note and remained under pressure for another day during the day's trading session. Consequently, it further slid to Rs 107.10 and Rs 107.50 for buying and selling, respectively, as compared to the overnight closing rates of Rs 107.15 and Rs 107.65 respectively, they added.
Furthermore, the rupee appreciated against the pound sterling for buying at Rs 139.80 against the last closing rate of Rs 140.20. However, no change in its value took place for selling as it maintained its opening trend of Rs 141.20, they said.
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