The rupee halted fresh erosion against the dollar on the local money market on Wednesday in the process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee picked up 10 paisas against the dollar for buying at Rs 151.90 and it also gained 20 paisas for selling Rs 152.00, they said.
OPEN MARKET RATES: The rupee did not show any change versus the dollar for buying at Rs 152.00 while it appreciated by 50 paisas for selling at Rs 153.00, they said. The rupee shed 50 paisas against the euro for buying and selling at Rs 167.50 and Rs 170.50 respectively, they said.
In the third Asian trade, the dollar hovered near a four-week high on Wednesday, supported by higher US yields after the United States eased trade restrictions on Chinese telecommunications equipment maker Huawei Technologies.
The move came as a relief to markets hit by escalating trade tensions between the United States and China, though analysts said sentiment remained fragile with tariff negotiations between the world's two The index has risen 1.9% so far this year.
The US Commerce Department blocked Huawei Technologies Co Ltd from buying US goods last week, leading several companies to suspend business with the world's largest telecoms equipment maker.
The dollar was trading against the Indian rupee at Rs 69.748 and the greenback was available at 6.913 in terms of the Chinese yuan.
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Open Bid Rs.152.00
Open Offer Rs.153.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.151.90
Offer Rate Rs.152.00
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RUPEE IN LAHORE: The Pak rupee witnessed divergent trend in process of trading against the greenback in the local currency market on Wednesday.
Following fluctuating demand and supply situation in the market, the greenback moved both ways and ended for buying and selling at Rs 152.00 and Rs 153.50 against the overnight closing trend of Rs 152.50 and Rs 153.30 respectively, local currency dealers said.
Furthermore, the rupee-pound sterling parity stayed unchanged amidst sluggish trend in the market. The British currency was bought and sold at Rs 190.60 and Rs 192.00 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered Re.one against the dollar at the local currency markets of Islamabad and Rawalpindi on Wednesday.
The dollar opened at Rs 152(buying) and Rs 152.10(selling) against last rate of Rs 153(buying) and Rs 153.10(selling). It closed at Rs 152(buying) and Rs 152.10(selling).
The buying and selling rates of one tola of gold was Rs 71,300 (selling) and Rs 71,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
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