KARACHI: On Wednesday, PKR moved up against USD in both interbank and open markets. It also went up against other majors in open market. In global currency markets USD was holding near three-month high at the time of writing of this report after data showed US inflation soaring to a 13-year high thus indicating strong possibility of US Federal Reserve raising interest rates.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee gained 40 paisas for both buying and selling against USD over yesterday’s rates closing at 159.05 and 159.15 respectively.

OPEN MARKET RATES: In the open market, PKR gained 20 paisas for both buying and selling over yesterday’s rates closing at 159.10 and 159.60 respectively.

Against Euro, PKR gained 50 paisas for both buying and selling closing at 185.50 and 187 respectively.

Against UAE Dirham, PKR gained 15 paisas for both buying and selling closing at 42.80 and 43 respectively.

Against Saudi Riyal, PKR gained 20 paisas for both buying and selling closing at 41.75 and 41.95 respectively.

========================Open Bid       Rs 159.10Open Offer     Rs 159.60========================

Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday

========================Bid Rate       Rs 159.05Offer Rate     Rs 159.15========================

RUPEE IN LAHORE: The Pak rupee appreciated its worth versus major currencies including the greenback and the British pound in the local currency market on Wednesday.

Following lack of buyers’ interest in the market, the greenback remained under selling pressure throughout the trading session and closed lower for buying and selling at Rs 159.10 and Rs 160.00 against the overnight closing trend of Rs 159.50 and Rs 160.40, respectively, local currency dealers said.

Likewise, the national currency also followed suit in relation to the pound sterling that was bought and sold at Rs 217.50 and Rs 219.00 against Tuesday’s closing rate of Rs 218.50 and Rs 220.00 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar further gained 10 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.

The dollar opened at Rs160 (buying) and Rs 160.10(selling) against the last rate of Rs 159.90(buying) and Rs 160(selling).

It closed at Rs160 (buying) and Rs 160.10(selling).

The buying and selling rates of one tola of gold remained Rs106,000 (selling) and Rs106.100 (selling).

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