BR RESEARCH
KARACHI: Divergent trend was witnessed on the money market on Wednesday as the rupee moved both ways in the process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee shed three paisas versus the dollar for buying and selling at Rs 155.61 and Rs 155.63 respectively, they said.
OPEN MARKET RATES: The rupee did not move any side in relation to the dollar for buying and selling at Rs 155.30 and Rs 155.60 respectively, they said. The rupee gained sharply against the euro for buying and selling at Rs 171.25 and Rs 173.00 respectively, they said.
In the third Asian trade, the dollar held the upper hand against its rivals on Wednesday, particularly versus traditional safe-haven currencies, on rising hopes for a US-China trade deal and a string of solid US economic data.
The dollar index against major currencies was at 97.936, after rising 0.37% on Tuesday to 97.912.
Against the yen, the dollar traded at 109.16 yen, down 0.01% from late US levels but near its October high of 109.285 and a three-month high of 109.25 hit on Oct. 30.
The dollar was available against the Indian rupee at Rs 70.888, the greenback was at 4.134 in terms of the Malaysian ringgit and the US currency was at 6.996 versus the Chinese yuan.
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Open Bid Rs 155.30
Open Offer Rs 155.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs 155.61
Offer Rate Rs 155.63
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RUPEE IN LAHORE: The Pak rupee continued to keep going up for the third consecutive day against the American dollar in the local currency market on Wednesday.
Following lack of buyers’ interest in the market for another day, the dollar remained under pressure throughout the trading session and ended further lower for buying and selling at Rs 154.45 and Rs 155.30 against the overnight closing trend of Rs 154.55 and Rs 155.35 respectively, local currency dealers said.
Moreover, the local currency recovered 20 paisas against the pound sterling for buying at Rs 199.00 against the opening rate of Rs 199.20 whereas it stayed firmed for selling at Rs 199.70, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 10 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday. The dollar opened at Rs155.60 (buying) and Rs 155.70 (selling) against last rate of Rs155.70 (buying) and Rs 155.80 (selling). It closed at Rs155.60 (buying) and Rs 155.70 (selling).The buying and selling rates of one tola of gold were Rs. 87,850(selling) and Rs 87,500 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
