KARACHI: On Wednesday, Pakistan Rupee continued to gain strength against US Dollar in both interbank and open markets. In a similar capacity, it also continued to fall against Euro in open market. European stocks edged up on Wednesday in light of Britain approving COVID-19 vaccine by AstraZeneca and Oxford University and in hopes of financial recovery as vaccination efforts got underway.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee gained 5 paisas for both buying and selling against USD over yesterday's rates closing at 160.20 and 160.30 respectively.

OPEN MARKET RATES: In the open market, PKR gained 25 paisas for both buying and selling over yesterday's rates closing at 160.05 and 160.35 respectively.

Against Euro, PKR went down by 50 paisas for both buying and selling closing at 194.50 and 196 respectively.

Against UAE Dirham, PKR gained 15 paisas for both buying and selling closing at 43.55 and 43.75 respectively.

Against Saudi Riyal, PKR gained 10 paisas for buying and 5 paisas for selling closing at 42.30 and 42.55 respectively.

========================Open Bid       Rs 160.05Open Offer     Rs 160.35========================

Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday

========================Bid Rate       Rs 160.20Offer Rate     Rs 160.30========================

RUPEE IN LAHORE: The Pak rupee continued its upward journey for the second consecutive day against the American dollar in the local currency market on Wednesday.

Amid lack of buying interest in the market, the dollar remained under selling pressure for another day and ended further lower for buying and selling at Rs 160.00 and Rs 161.00 against the overnight closing trend of Rs 160.20 and Rs 161.40 respectively, local currency dealers said.

On the other hand, the rupee failed to hold its day earlier recoveries as it declined by Re 1 against the pound sterling. At the close of trading, the pound's buying and selling rate rose from Tuesday's closing of Rs 2140.00 and Rs 215.80 to Rs 215.00 and Rs 216.80 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 30 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday.

The dollar opened at Rs160.60(buying) and Rs 160.70(selling) against last rate of Rs160.90(buying) and Rs 161(selling).

It closed at Rs160.60(buying) and Rs 160.70(selling).

The buying and selling rates of one tola of gold was Rs. 113,600 (selling) and Rs113,300(buying) at the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020