The rupee depicted slight fall in relation to the dollar on the money market on Wednesday in process of trading, dealers said. The rupee shed one paisa against the dollar for buying and selling at Rs 124.25 and Rs 124.26, they added.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee also drifted lower by 10 paisas versus the dollar for buying and selling at Rs 125.30 and Rs 125.60, they said. The national currency held the overnight levels in terms of the euro for buying and selling at Rs 147.00 and Rs 148.50, they said.
In the third Asian trade, the dollar kept to tight ranges on Wednesday as investors focused their attention on the Federal Reserve's policy review later in the day as global markets fret over an escalating trade row between the United States and China.
The US currency slipped against the Australian and New Zealand dollars, which were partially underpinned by a survey showing a bounce in New Zealand business sentiment.
Global markets have been on edge in the past few months as the heated Sino-US trade dispute stoked uncertainty about the outlook for global growth and broader monetary policy for some developed and emerging market economies.
The Fed will end its two-day policy meeting later on Wednesday at which it is expected to raise interest rates for the eighth time since late 2015. Investors are also counting on another rate hike before year-end, though the outlook for 2019 is less clear.
The dollar index, which measures the greenback against six major currencies, has slipped around 3 percent since mid-August.-Reuters
The dollar was trading against the Indian rupee at Rs 72.595, the greenback was at 4.140 in terms of the Malaysian ringgit and the US currency was available at 6.872 versus the Chinese yuan.
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Open Bid Rs.125.30
Open Offer Rs.125.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.124.25
Offer Rate Rs.124.26
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RUPEE IN LAHORE: The Pak rupee recovered on buying side while it stayed unchanged on selling side in relation to the greenback in the local currency market on Wednesday.
According to currency dealers, the greenback depreciated by 25 paisas and ended for buying at Rs 125.10 against the overnight closing rate of Rs 125.35 whereas it firmly held its opening trend for selling at Rs 125.70.
In addition, the rupee maintained downward trend for the second consecutive day versus the pound sterling. The pound's buying and selling rates further rose from Tuesday's closing of Rs 163.40 and Rs 164.50 to Rs 164.20 and Rs 165.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained further ground against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 125.30 (buying) and Rs 125.40 (selling) against last rate of Rs 125.20 (buying) and Rs 125.30 (selling). It closed at Rs 125.30 (buying) and Rs 125.40 (selling).
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