RECORDER REPORT
KARACHI: No visible changes were seen on the money market on Wednesday as the rupee showed no change versus the dollar in process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee was almost unchanged against the dollar for buying and selling at Rs 121.54 and R 121.55 respectively, they said.
OPEN MARKET RATES: The rupee did not move any side in terms of the dollar for buying and selling Rs 124.00 and Rs 124.50 respectively, dealers said. The rupee gained 50 paisas in relation to the dollar for buying and selling Rs 143.30 and Rs 145.30 respectively, dealers said.
In the third Asian trade, major currencies marked time on Wednesday and the Chinese yuan recovered from 11-month lows after authorities took steps on Tuesday to calm financial markets rattled by trade war worries.
Both the yuan and Chinese equity markets have been on edge ahead of July 6, when US tariffs on $34 billion worth of Chinese goods take effect. Beijing has said it will retaliate with tariffs on U.S. products.
The dollar was trading against the Indian rupee at Rs 68.520, the greenback was at 4.044 in terms of the Malaysian ringgit and the US currency was available at 6.628.
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Open Bid Rs.124.00
Open Offer Rs.124.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.121.54
Offer Rate Rs.121.55
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RUPEE IN LAHORE: The Pak rupee appreciated its worth in terms of trading against the US dollar in the local currency market on Wednesday.
According to currency dealers, the greenback resumed trading on a depressing note following lack of buyers' interest in the market. As a result, it ended lower for buying and selling at Rs 124.00 and Rs 124.70 as compared to the overnight closing trend of Rs 124.20 and Rs 124.90 respectively, they added.
Furthermore, the local currency moved both ways in process of trading versus the pound sterling which was bought and sold at Rs 162.20 and Rs 163.30 against Tuesday's closing trend of Rs 162.10 and Rs 163.50 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 40 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 124.30 (buying) and Rs 124.40 (selling) against last rate of Rs124.70 (buying) and Rs124.80 (selling). It closed at Rs 124.30 (buying) and Rs 124.40 (selling).
