The rupee moved with little changes versus the dollar on the money market on Wednesday in the process of trading activity, dealers said. The rupee shed 3 paisas against the dollar for buying at Rs 132.68 while it was unchanged for selling at Rs 132.70, dealers said.
In the third Asian trade, the dollar seesawed versus the euro and yen in a volatile session as traders scanned US midterm election results for early insights into the prospect of Congressional gridlock.
The Democratic Party is expected to win control of the US House of Representatives, with the Republicans seen likely to keep their majority in the Senate.
A split Congress may hurt the dollar temporarily: a Democratic win in one or both chambers is likely to be seen as a repudiation of President Donald Trump and the policies which have boosted corporate growth.
The dollar index, a gauge of its value versus six major peers, lost 0.2 percent to trade at 96.12.
The dollar was trading against the Malaysian ringgit at 4.165 and the greenback was available at 6.930 versus the Chinese yuan.
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Open Bid Rs.132.20
Open Offer Rs.132.60
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Bid Rate Rs.132.68
Offer Rate Rs.132.70
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According to currency dealers, the greenback firmly held its opening trend for buying at Rs 131.50 whereas it remained under pressure and further depreciated by 20 paisas for selling at Rs 132.70 against the overnight closing rate of Rs 132.50.
Moreover, the rupee maintained declining trend for the third consecutive day against the pound sterling. Consequently, the pound's buying and selling rates further rose from Tuesday's closing of Rs 170.50 and Rs 172.00 to Rs 171.50 and Rs 173.00 respectively, they added.
The dollar opened at Rs 132.20 (buying) and Rs 132.30 (selling) against last rate of Rs 131.90 (buying) and Rs 132 (selling). It closed at Rs 132.20 (buying) and Rs 132.30(selling).
The buying and selling rates of gold were Rs 59,750 (selling) and Rs 59,500 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.