RECORDER REPORT
KARACHI: A kind of firmness prevailed on the money market on Wednesday as the rupee held the present levels in relation to the dollar for the third day in a row, dealers said.
INTER-BANK MARKET RATES: The rupee did not move any side in relation to the dollar for buying and selling at Rs 110.54 and Rs 110.55 respectively, they said.
In the third Asian trade, the dollar fell to a three-year low against its peers on Wednesday, losing its earlier bounce as the euro edged back after shaking off a setback to Chancellor Angela Merkel's chances of forging a "grand coalition" in Germany.
The dollar index against a basket of six major currencies last stood little changed at 90.446 after hitting 90.113, its lowest since December 2014.
The dollar index momentarily recovered to as high as 90.826 on Tuesday after slipping steadily this month on investors' expectations that major central banks would eventually wind back stimulus to normalise monetary policy.
The dollar was trading against the Indian rupee at Rs 63.960, the greenback was at 3.950 in terms of the Malaysian ringgit and the US currency was available at 6.436 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 82.83-82.85 (Previous 82.83-82.83).
OPEN MARKET RATES: The rupee managed to hold over night levels in terms of the dollar for buying and selling at Rs 111.80 and Rs 112.10 respectively, they said.
The rupee also showed no change against the euro for buying and selling at Rs 136.00 and Rs 138.00 respectively, they added.
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Open Bid Rs.111.80
Open Offer Rs.112.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.110.54
Offer Rate Rs.110.55
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RUPEE IN LAHORE: The Pak rupee stayed firmed on buying side while it slid on selling side in relation to the greenback in the local currency market on Wednesday.
According to currency dealers, the dollar resumed trading on diverse pattern following divergent trend in the market.
At the close, it firmly held its opening trend for buying at Rs 111.60. However, it appreciated by 10 paisas for selling at Rs 112.20, they added.
In addition, the national currency also shed 10 paisas against the pound sterling for buying at Rs 153.00. However, it did not witness any variation for selling at Rs 154.00, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar held the present levels against rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 112.25 (buying) and Rs 112.35 (selling) against last rate of Rs 112 (buying) and Rs 112.10 (selling). It closed at Rs 112.25 (buying) and Rs 112.35 (selling).
