As a result of higher demand for dollars, the rupee tumbled modestly versus the greenback on the money market on Wednesday in the process of trading activity, dealers said. The rupee was almost unchanged in relation to the dollar for buying and selling Rs 115.61 and Rs 115.62, they said.
INTER-BANK MARKET RATES: In the third Asian trade, the dollar edged higher versus a basket of currencies on Wednesday, with investors awaiting the minutes of the Federal Reserve's last policy meeting for hints on the pace of further US monetary tightening.
The dollar index, which measures the currency against a basket of six major peers, rose 0.1 percent to 93.681. On Monday, the index set a five-month high of 94.058.
Further weighing on the prices of riskier assets, Trump also said there was a "substantial chance" his summit with North Korean leader Kim Jong Un will not take place as planned on June 12 amid concerns that Kim is resisting giving up his nuclear weapons.
Against the yen, the dollar fell 0.3 percent to 110.53 yen, pulling away from a four-month high of 111.395 yen set on Monday.
The dollar was trading against the Indian rupee at Rs 68.188, the US currency was available at 3.973 in terms of the Malaysian ringgit and the greenback was at 6.374 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 83.70-83.70 (Previous 83.70-83.70).
OPEN MARKET RATES: The rupee lost 50 paisas in terms of the dollar for buying and selling at Rs 117.80 and Rs 118.30, they said. The national currency, however, picked up 80 paisas versus the euro for buying and selling at Rs 138.00 and Rs 139.50, they said.
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Open Bid Rs.117.80
Open Offer Rs.118.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.115.61
Offer Rate Rs.115.62
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RUPEE IN LAHORE: The Pak rupee maintained declining trend for the second consecutive day against the US dollar in the local currency market on Wednesday.
According to currency dealers, the short supply phenomenon of the US dollar for another day in the currency market which helped its further appreciation for buying and selling at Rs 118.00 and Rs 118.50 as compared to the overnight closing trend of Rs 117.70 and Rs 118.10 respectively.
Furthermore, the national currency moved both ways in process of trading against the British pound which was bought and sold at Rs 156.80 and Rs 158.20 against Tuesday's closing rates of Rs 157.55 and Rs 158.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 117.50 (buying) and Rs 118 (selling) against same last rate. It closed at Rs 117.50 (buying) and Rs 118 (selling).
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