The rupee gave up overnight firmness against the dollar on the money market on Wednesday, dealers said. The rupee slipped slightly in relation to the dollar for buying and selling at Rs 138.89 and Rs 138.91 respectively.
INTER-BANK MARKET RATES: In third Asian trade, safe-haven currencies such as the yen rose against the dollar on Wednesday, as a cautious mood prevailed on the first trading day of the year on concerns over global growth, the US government shutdown and a slower pace of Federal Reserve rate hikes.
The yen gained 0.3 percent against the dollar to 109.39 in Asian trade. Trading volumes remained light as global markets reopened after the New Year's Day holiday. Japanese markets remain closed on Wednesday. The yen has strengthened for three straight weeks on investors' lower appetite for risk.
Fears of a global slowdown were aggravated on Wednesday by a survey showing China's factory activity contracted for the first time in 19 months in December as domestic and export orders continued to weaken.
The dollar was trading against the Indian rupee at Rs 69.663, the greenback was at 4.135 in terms of the Malaysian ringgit and the US currency was at 6.856 versus the Chinese yuan.
OPEN MARKET RATES: The rupee depreciated by 30 paisas in terms of the dollar for buying at Rs 138.80 and it also shed 20 paisas for selling Rs 139.20, they said. The rupee held the overnight levels versus the euro for buying and selling at Rs 158.00 and Rs 159.80 respectively, they said.
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Open Bid Rs.138.80
Open Offer Rs.139.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.138.89
Offer Rate Rs.138.91
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RUPEE IN LAHORE: The Pak rupee stayed unchanged in process of trading against the major foreign currencies including the greenback and British pound in the local currency market on Wednesday.
According to currency dealers, the greenback resumed trading on its overnight closing for buying and selling at Rs 138.40 and Rs 139.50 respectively. The greenback did not witness any change in its demand and supply situation as it firmly sustained its opening trend till close of trading, they added.
Likewise, the national currency also followed the same suit in relation to the pound sterling. Consequently, the pound was closed against its opening trend for buying and selling at Rs 174.50 and Rs 176.00 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 15 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 138.70(buying) and Rs 138.80 (selling) against last rate of Rs 138.55 (buying) and Rs 138.65 (selling). It closed at Rs 138.70 (buying) and Rs 138.80(selling).
The buying and selling rates of one tola of gold was Rs 67,200 (selling) and Rs 67,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
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