THE RUPEE: Rising trend

The rupee sustained rising trend against the dollar on the money market on Wednesday in the process of trading activity, dealers said.

INTER-BANK MARKET RATES: The rupee rose by five paisas in terms of the dollar for buying and selling at Rs 155.72 and Rs 155.74 respectively, dealers said.

OPEN MARKET RATES: The rupee maintained an upward trend versus the dollar, gaining 10 paisas for buying and selling at Rs 155.60 and Rs 155.90 respectively, they added. The rupee shed 10 paisas versus the euro for buying and selling at Rs 172.30 and Rs 174.30 respectively, they added.

In the third Asian trade, the dollar traded narrowly as markets braced for a rate cut by the Federal Reserve later on Wednesday, while sterling steadied after Britain's lower house of parliament approved calling an early election in December that might break the Brexit deadlock.

The dollar was steady against the euro at $1.1110 and flat versus a basket of six major currencies at 97.698 as investors awaited the Fed's interest rate decision.

Against the yen, the greenback was also little moved at 108.84 yen, not far from its three-month high of 109.07 yen touched on Tuesday.

The US central bank is expected to cut its policy rate for a third time in a row when it concludes its two-day meeting on Wednesday.

The dollar was trading against the Indian rupee at Rs 70.983, the greenback was at 4.183 in terms of the Malaysian ringgit and the US currency was at 7.062 in relation to the Chinese yuan.

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Open Bid       Rs.155.60
Open Offer     Rs.155.90
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.

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Bid Rate       Rs.155.72
Offer Rate     Rs.155.74
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RUPEE IN LAHORE: The Pak rupee continued to keep going up for the third consecutive day in process of trading against the US dollar in the local currency market on Wednesday.

Following lack of buyers' interest in the market for another day, the dollar slightly decreased and ended further lower for buying and selling at Rs 155.55 and Rs 155.85 against the opening rate of Rs 155.60 and Rs 155.95 respectively, local currency dealers said.

The national currency, however, remained under pressure for the second consecutive day in relation to the pound sterling. The pound's buying and selling rates further improved from the Tuesday's closing of Rs 199.25 and Rs 199.85 to Rs 199.60 and Rs 200.20 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 15 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday.

The dollar opened at Rs 156.10 (buying) and Rs 156.15(selling) against last rate of Rs 156.25 (buying) and Rs 156.30(selling).

It closed at Rs 156.10 (buying) and Rs 156.15 (selling).

The buying and selling rates of one tola of gold were Rs. 87,500 (selling) and Rs 87,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.