RECORDER REPORT
KARACHI: The rupee managed to recover modestly against the dollar on the money market on Wednesday in the process of trading activity, dealers said.
OPEN MARKET RATES: The rupee picked up 10 paisas against the dollar for buying and selling Rs 111.70 and Rs 112.00 respectively, they said. The rupee also gained 80 paisas against the euro for buying at Rs 137.00 and the national currency also rose by 1.60 for selling Rs 138.25 respectively, they added.
INTER-BANK MARKET RATES: The rupee stayed put 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 slipped against the yen on Wednesday, handing back earlier gains, as the recovery in share markets lost steam and dampened investor risk appetite.
The dollar index against a basket of six major currencies was a shade lower at 89.530, after reaching a two-week peak of 90.034 overnight.
The euro edged up 0.1 percent to $1.2391 after slipping to a two-week low of $1.2314 the previous day.
The dollar was trading against the Indian rupee at Rs 64.165, the greenback was at 3.905 in terms f the Malaysian ringgit and the US currency was available at 6.255 in relation to the Chinese yuan.
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Open Bid Rs 110.54
Open Offer Rs 110.55
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs 111.70
Offer Rate Rs 112.00
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RUPEE IN LAHORE: The Pakistani rupee appreciated on buying side while it remained firmed on selling side versus the US dollar in the local currency market on Wednesday.
According to currency dealers, the dollar commenced trading on its overnight closing trend of Rs 111.60 and Rs 112.10 as its buying and selling rates, respectively. At close of trading, it further slid 10 paisas for buying at Rs 111.50. However, no change in its value took place for selling at Rs 112 respectively, they added.
In addition, the national currency remained strong for the second consecutive day against the pound sterling. Resultantly, the pound’s buying and selling rates further slipped from Tuesday’s closing of Rs 154.70 and Rs 156.60 to Rs 153.50 and Rs 155.00 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed recovery against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 111.25 (buying) and Rs 111.35 (selling) against last rate of Rs 112.25 (buying) and Rs 112.35 (selling). It closed at Rs 111.25 (buying) and Rs 111.35 (selling).
