BR RESEARCH
KARACHI: Firmness prevailed on the money market on Wednesday as the rupee managed to recover more ground against the dollar in process of trading activity, dealers said. The rupee did not show any change in relation to the dollar for buying and selling at Rs 115.61 and Rs 115.62, they said.
INTER-BANK MARKET RATES: In the third Asian trade, the euro held firm on Wednesday as investors started to focus on the European Central Bank's policy meeting next week, while concerns that the United States could pull out of a trade pact with Canada and Mexico hit the peso and the Canadian dollar.
The euro traded at $1.1724, having gained about 0.5 percent so far this week and hovering about two cents above its 10-month low of $1.1510 set on May 29.
The dollar was trading against the Indian rupee at Rs 67.063, the greenback was at 3.973 in relation to the Malaysian ringgit and the US currency was at 6.395 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 83.70-83.70 (Previous 83.70-83.70).
OPEN MARKET RATES: The rupee picked up further 10 paisas against the dollar for buying and selling at Rs 118.00 and Rs 118.50, they said. The rupee shed 20 paisas versus the euro for buying and selling at Rs 138.00 and Rs 139.50, they said.
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Open Bid Rs.118.00
Open Offer Rs.118.50
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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 depreciated on buying side whereas it stayed unchanged on selling side in relation to the greenback in the local currency market on Wednesday.
According to currency dealers, the greenback commenced trading on its overnight closing of Rs 118.20 and Rs 118.80 as its buying and selling rates respectively. At the close, it appreciated by 20 paisas for buying at Rs 118.40.
However, it firmly held its opening trend for selling, they added.
Furthermore, the national currency showed strength as it recovered its earlier losses versus the pound sterling. Consequently, the pound's buying and selling rates rose from Tuesday's closing of Rs 156.50 and Rs 157.40 to Rs 157.40 and Rs 158.30 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at 118.50 (buying) and Rs 118.60 (selling) against same last rate. It closed at Rs 118.50 (buying) and Rs 118.60 (selling).
