Firm trend was seen on the money market on Wednesday as the rupee showed no major changes against the dollar in the process of trading, experts said. The rupee did not move any side versus the dollar for buying and selling at Rs 110.57 and Rs 110.58 respectively, they said.
INTER-BANK MARKET RATES: In the third Asian trade, the dollar wallowed against the yen and other major currencies on Wednesday after the sudden dismissal of US Secretary of State Rex Tillerson killed off an earlier bounce in the currency.
US President Donald Trump fired Tillerson on Tuesday after a series of rifts over policy on North Korea, Russia and Iran, replacing his chief diplomat with loyalist CIA Director Mike Pompeo.
It was a repeat performance for the currency market and the dollar, which declined a week ago when the resignation of White House economic advisor Gary Cohn undermined investor confidence in the greenback.
The dollar was available against the Indian rupee at Rs 64.980, the greenback was at 3.894 versus the Malaysian ringgit and the US currency was at 6.316 in relation the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday: 82.96-82.96 (Previous 82.96-82.96).
OPEN MARKET RATES: The rupee sustained its overnight levels in terms of the dollar for buying and selling at Rs 111.50 and Rs 111.80 respectively, they said.
The rupee lost 80 paisas in relation to the euro for buying and selling at Rs 137.30 and Rs 138.80 respectively, they added.
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Open Bid Rs.111.50
Open Offer Rs.111.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.110.57
Offer Rate Rs.110.58
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RUPEE IN LAHORE: The Pak rupee showed strength as it recovered its earlier losses versus the greenback in the local currency market on Wednesday.
The trading activity of the greenback resumed on a negative note amidst lack of buyers' interest in the market. As a result, it lost 10 paisas and ended at Rs 111.30 and Rs 111.60 for buying and selling, respectively, as compared to the overnight closing trend of Rs 111.40 and Rs 111.70 respectively, local currency dealers said.
On the contrary, the national currency remained under pressure for the third consecutive day against the pound sterling. Consequently, the pound's buying and selling rates further rose from Tuesday's closing of Rs 153.65 and Rs 154.30 to Rs 154.40 and Rs 155.30 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 111.80 (buying) and Rs 111.90 (selling). It closed at Rs 111.80 (buying) and Rs 111.90 (selling).
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