The rupee managed to hold overnight levels against the dollar on the money market on Wednesday in the process of trading activity, dealers said.
OPEN MARKET RATES: The rupee was unchanged in relation to the dollar for buying and selling at Rs 118.20 and Rs 118.70 respectively, they said. The rupee gained 70 paisas in terms of the euro for buying and selling at Rs 142.30 and Rs 143.80 respectively, they added.
28-04-2018
INTER-BANK MARKET RATES: The rupee did not move any side in relation to the dollar for buying and selling at Rs 115.61 and Rs 115.62 respectively, they said. In the second Asian trade, the dollar held near a four-month high against a basket of major currencies on Wednesday, buoyed by the outlook for a strong US economy and rising yields amid signs of a slowdown elsewhere, especially in Europe.
The dollar's index ticked down 0.1 percent in Asia after having gained 1 percent in the preceding two days. It rose to as high as 92.57 on Tuesday, its firmest since Jan. 10. The index rose above its 200-day moving average for the first time in a year, triggering a wave of short-covering.
While the Federal Reserve is widely expected to keep the benchmark interest rate on hold at its policy meeting ending on Wednesday, it looks certain to raise borrowing costs next month, given signs of possible acceleration in the US economy.
The dollar was trading against the Indian rupee at Rs 66.725, the greenback was available at 3.926 in terms of the Malaysian ringgit and the US currency was at 6.361 versus the Chinese yuan.
OPEN MARKET RATES: The rupee dropped by 10 paisas in relation to the dollar for buying and selling Rs 111.50 and Rs 111.80 respectively, however it gained 70 paisas against the euro for buying and selling at Rs 136.80 and Rs 138.30 respectively, they added.
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Bid Rate Rs.118.20
Offer Rate Rs.118.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Open Bid Rs.115.61
Open Offer Rs.115.62
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RUPEE IN LAHORE The Pak rupee registered marginal reduction on buying side while it remained firmed on selling side in relation to the greenback on the local currency market on Wednesday.
According to currency dealers, the greenback commenced trading on its previous closing of Rs 118.35 and Rs 118.70 as its buying and selling rates, respectively. At the close, it appreciated by five paisas for buying at Rs 118.40. However, it firmly sustained its opening trend for selling, they added.
Moreover, the national currency appreciated in terms of trading against the pound sterling. Consequently, the pound's buying and selling rates slid from last closing trend of Rs 162.05 and Rs 163.70 to Rs 161.20 and Rs 162.00 respectively, they said.
RUPEE IN ISLAMABAD The value of dollar against the rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 118.20 (buying) and Rs 118.40 (buying) against same last rate. It closed at Rs 118.20 (buying) and Rs 118.40 (buying).
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