RECORDER REPORT
KARACHI: The rupee continued decline against the dollar on the money market on Wednesday in the process of modest trading, money experts said.
INTER-BANK MARKET RATES: The rupee did not move any side in terms of the dollar for buying and selling at Rs 115.61 and Rs 115.62 respectively, they said.
In the third Asian trade, the dollar edged up on Wednesday, as firm US economic data supported the greenback against the yen and headline risks around US-China trade relations and tensions in the Middle East appeared to take a backseat.
The dollar index against a group of six major currencies was a shade higher at 89.538 after gaining 0.1 percent overnight.
The index had stooped to 89.229, its lowest since March 27 before pulling back on stronger-than-expected March US housing starts and steady industrial production figures.
The greenback found support from economic indicators as the market focused on fundamentals as perceived political risks receded, with Western strikes on Syria not expected to escalate and a lull in major US-China trade-related headlines.
The dollar was trading against the Indian rupee at Rs 65.665, the greenback was at 3.890 in terms of the Malaysian ringgit and the US currency was available at 6.287 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Wednesday: 82.98-82.98 (Previous 82.98-82.98).
OPEN MARKET RATES: The rupee extended overnight fall, losing 10 paisas more in relation to the dollar for buying and selling at Rs 116.70 and Rs 117.00 respectively, they said. The rupee dropped 25 paisas versus the euro for buying and selling at Rs 144.00 and Rs 145.50 respectively, they added.
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Open Bid Rs.116.70
Open Offer Rs.117.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.115.61
Offer Rate Rs.115.62
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RUPEE IN LAHORE: The Pak rupee maintained declining trend for the second consecutive day versus the American dollar in the local currency market on Wednesday.
According to currency dealers, the short supply phenomenon of the US dollar prevailed throughout the trading session for another day which helped its further appreciation for buying and selling at Rs 116.85 and Rs 117.15 as compared to the overnight closing trend of Rs 116.60 and Rs 116.95 respectively.
The national currency, however, showed strength as it recovered its earlier losses in terms of trading against the pound sterling. The pound's buying and selling rates slid from Tuesday's closing of Rs 166.35 and Rs 167.20 to Rs 165.00 and Rs 166.00 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of dollar against the rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 116.60 (buying) and Rs 116.70 (buying) against same overnight value. It closed at Rs 116.60 (buying) and Rs 116.70 (buying).
