RECORDER REPORT
KARACHI: Little changes were seen in the value of the rupee against the dollar on the local currency market on Wednesday in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee moved slightly against the dollar at Rs 104.85 and Rs 104.86 respectively, they said.
OPEN MARKET RATES: The rupee was unchanged versus the dollar for buying and selling at Rs 105.70 and Rs 105.90, they said. It also held the overnight levels in relation to the euro for buying and selling at Rs 116.00 and Rs 117.00, they said.
In the third Asian trade, the yen fell on Wednesday, pressured by expectations of further monetary easing by the Bank of Japan and amid media reports that the Japanese government will soon unveil a $265 billion stimulus package.
Trading in the yen was choppy, with traders taking cues from various headlines regarding Japan's economic stimulus package.
The yen fell after Japan's Fuji TV said Prime Minister Shinzo Abe was planning to announce a stimulus package with a headline figure of around 27 trillion yen.
The dollar was trading against the Indian rupee at Rs 67.26, the greenback was at 4.0720 in terms of the Malaysian ringgit and the US currency was at 6.6699 versus the Chinese yuan.
========================
Open Bid Rs.105.70
Open Offer Rs.105.90
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
========================
Bid Rate Rs.104.85
Offer Rate Rs.104.86
========================
RUPEE IN LAHORE: The rupee showed strength and appreciated on buying side while it marginally lost five-paisa on selling side in relation to the greenback on the local currency markets on Wednesday.
The dollar resumed trading at its overnight closing of Rs 105.90 and Rs 106.10 as its buying and selling rates, respectively. Because of selling pressure, the dollar could not sustain and declined to Rs 105.05 on buying counter. However, following buyers' interest, its selling rate improved to Rs 106.15, the currency dealers said.
The rupee, however, recovered some of its earlier loss as it improved versus the pound sterling that was traded at Rs 139.10 and Rs 140.60 on buying and selling counter, respectively as compared with the Tuesday's closing of Rs 139.80 and Rs 141.00, respectively, the dealers added.
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.
