The rupee registered a significant improvement in its worth in relation to the greenback and the British pound in partially opened local currency markets on Wednesday. Currency dealers said the greenback commenced trading at Rs 59.70 and Rs 59.90 on buying and selling counters, respectively, adding there was no uniformity in the rates quoted by the moneychangers. Though, a few money-changers resumed business after a long break on account of Eid holidays, yet they recorded considerable number of transactions. The greenback was finally closed at Rs 59.50 and Rs 59.75 on buying and selling sides, respectively.
Similarly, the rupee appreciated its worth against the pound sterling. The pound's buying rate declined from previous week's closing rate of Rs 109.80 to Rs 107.50. The dealers, however, preferred buying of foreign currencies instead of selling the same; therefore, they did not quote the selling rates.
ISLAMABAD: The open currency markets of Islamabad and Rawalpindi partially opened after a long Eidul Fitr holidays here on Wednesday.
However, formal business of currency transactions at the currency exchange establishments will resume on Thursday.
Few currency shops remained opened at the twin cities of Islamabad and Rawalpindi where less turnover amid the rupee's strength against dollar was witnessed during day's session.
The dollar opened at Rs 59.70 (buying) and Rs 59.80 (selling) against last rate of Rs 59.60 (buying) and Rs 59.70 (selling). It did not observe any further change in the evening session and closed at Rs 59.70 (buying) and Rs 59.80 (selling).
Pound sterling opened at Rs 110 (buying) and Rs 110.20 (selling) against last rate of Rs 109 (buying) and Rs 109.20 (selling). It did not observe any further change in the evening session and closed at Rs 110 (buying) and Rs 110.20 (selling).
Canadian dollar opened at Rs 49.65 (buying) and Rs 49.75 (selling) against last rate of Rs 49.50 (buying) and Rs 49.60 (selling).
It is expected that brisk trading of ever-favourite greenback and other currencies will be witnessed at the foreign exchange companies.