RECORDER REPORT
KARACHI: The rupee moved both ways on the money market on Wednesday in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee recovered overnight losses against the dollar, picking up 25 paisas for buying and selling at Rs 104.90 and Rs 105.10 respectively, they said.
OPEN MARKET RATES: The rupee, however, lost 10 paisas in terms of the dollar for buying and selling at Rs 104.90 and Rs 105.10 respectively, they said.
The rupee also shed 75 paisas versus the euro for buying and selling at Rs 116.75 and Rs 118.00 respectively, they said.
In the third Asian trade, most emerging Asian currencies rose on Wednesday as disappointing U.S. services sector data eased expectations of an immediate interest rate hike by the Federal Reserve, helping investors keep seeking higher yields in the region.
"A September hike is now off the table and December is uncertain too. So the risk is on," said a senior Malaysian bank currency trader in Kuala Lumpur.
The dollar was trading against the Indian rupee at Rs 66.37, the greenback was at 4.0635 versus the Malaysian ringgit and the US currency was at 6.6692 in terms of the Chinese yuan.
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Open Bid Rs.104.90
Open Offer Rs.105.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.104.40
Offer Rate Rs.104.43
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RUPEE IN LAHORE: The Pak rupee showed stability and remained unchanged on buying side while it gained five paisas on selling side in relation to the greenback on the local currency market on Wednesday.
The dollar resumed trading on a mixed note and moved in a narrow range during the day's trading. At close, the dollar ended at Rs 104.80 and Rs 105.25 on buying and selling side against the overnight closing of Rs 104.80 and Rs 105.30, respectively, the dealers said.
Similarly, the rupee stayed unchanged but registered decline against the pound sterling that was traded at Rs 138.70 and Rs 139.70 on buying and selling counter as compared with the previous closing of Rs 138.70 and Rs 139.00, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at local currency establishments of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 104.50 (buying) and Rs 105 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 104.50 (buying) and Rs 105 (selling).
Pound Sterling opened at Rs 137.50 (buying) and Rs 138 (selling). It did not observe further change in the second session and closed at Rs 137.50 (buying) and Rs 138 (selling) by the end of second session.
