THE RUPEE: mixed patterns

The rupee appreciated against the dollar on the inter-bank market, it, however, was unchanged versus the greenback on the open market on Wednesday in the process of trading activity, dealers said. The rupee picked up 15 paisas versus the dollar for buying at Rs 132.45 and it also gained 22 paisas for selling and Rs 132.48, dealers said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: While the rupee was inert in relation to the dollar for buying and selling at Rs 131.50 and Rs 132.00 respectively, they said. The domestic currency shed 20 paisas in terms of the euro for buying and selling Rs 148.70 and Rs 150.70 respectively, they said.
In the third Asian trade, the Japanese yen edged lower against the dollar on Wednesday after the Bank of Japan signalled it was a long way off from exiting crisis-era stimulus, while the greenback scaled 16-month highs versus its key rivals on continued strength in the US economy.
The Bank of Japan (BoJ) kept monetary policy steady on Wednesday and cut its price forecasts, reinforcing market expectations that subdued inflation will force it to maintain its massive stimulus programme for the time being.
The US 10-year treasury bond yields rose for the third consecutive trading session on Wednesday and were last at 3.13 percent. The 10-year Japanese government bond yield was 0.12 percent, highlighting the wide gap in favour of the dollar.
The dollar index, a gauge of its value versus six major peers, climbed to a fresh 16-month high to hit 97.06.
The dollar was available against the Indian rupee at Rs 74.055, the greenback was at 4.181 in terms of the Malaysian ringgit and the US currency was trading at 6.967 in relation to the Chinese yuan.

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Open Bid       Rs.131.50

Open Offer     Rs.132.00

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.

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Bid Rate       Rs.132.45

Offer Rate     Rs.132.48

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RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 20 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 132 (buying) and Rs 132.10 (selling) against last rate of Rs 131.80(buying) and Rs 131.90(selling). It closed at Rs 132 (buying) and Rs 132.10(selling).
The buying and selling rates of gold were Rs 59,600 (selling) and Rs 59,500(buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi here on Wednesday.
Copyright Business Recorder, 2018