RECORDER REPORT
KARACHI: The rupee moved both ways against the dollar on the money market on Wednesday, dealers said.
INTER-BANK MARKET RATES: The rupee continued slide versus the dollar, losing eight-paisa against the dollar for buying and selling at Rs 104.79 and Rs 104.81 respectively, they said.
OPEN MARKET RATES: The rupee picked up 10-paisa in terms of the greenback for buying and selling at Rs 106.00 and Rs 106.20 respectively, they said. The rupee also gained 35-paisa in relation to the euro for buying and selling at Rs 117.50 and Rs 118.50 respectively, they added.
In the third Asian trade, the yen retook some ground against the dollar after a recent rebound in crude oil prices fizzled and revived demand for the safe-haven Japanese currency.
The dollar fell 0.3 percent to 113.74 yen, pulling away from a one-week high of 114.875 set on Tuesday. The greenback tumbled to a 16-month low below 111 yen last week as a global rout in equities and commodities as well as reduced.
The dollar then bounced sharply as risk aversion subsided but remains susceptible to swings in sentiment, as seen by its reaction to Tuesday's drop in crude oil.
The dollar was trading against the Indian rupee at Rs 68.37, the greenback was at 4.2050 in terms of the Malaysian ringgit and the US currency was available at 6.524 in relation to the Chinese yuan.
Inter bank buy and sell rates for the taka against the dollar on Wednesday: 78.50-78.50 (previous 78.50-78.50).
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Open Bid Rs 106.00
Open Offer Rs 106.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs 104.79
Offer Rate Rs 104.81
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RUPEE IN LAHORE: The rupee almost held the present levels against the dollar on the local money market on Wednesday.
The dollar did end at Rs 106.20 and Rs 106.50 as its buying and selling against Rs 106.20 and Rs 106.50 of Wednesday.
But the rupee did gain well against the British Pound on buying and selling.
The pound was bought and sold at Rs 152.50 and Rs 153.50 as compared with the previous closing of Rs 152.50 and Rs 153.50.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar further gained strength against the Pak rupee on the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).
