THE RUPEE: all-round gains
The rupee managed to recover modestly against the dollar on the currency market on Wednesday in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee showed an improvement of 14-paisa versus the dollar at Rs 100.80 and Rs 100.83 respectively, dealers said.
OPEN MARKET RATES: The local currency also picked up 10-paisa against the dollar for buying and selling at Rs 100.70 and Rs 100.90 respectively. It adopted the same pattern in terms of the euro, rising 75-paisa at Rs 119.00 and Rs 119.25 respectively, they added.
In the third Asian market trade, The Indonesian rupiah hit three-week lows against the dollar on Wednesday in otherwise calm currency markets in Asia as investors held their bets ahead of the release of minutes of the Federal Reserve's last meeting and euro zone inflation data.
The US dollar was broadly steady, staying near nine-year highs versus the euro but recovering some ground it lost to the safe-haven yen earlier this week.
The dollar was trading against the Indian rupee at Rs 63.42, the greenback was at 3.5600 in terms of the Malaysian ringgit and the US currency was available at 6.2092 versus the Chinese Yuan.
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
RUPEE IN LAHORE:
The Pak rupee-dollar parity remained unchanged amid sluggish trading trend on the local currency market on Wednesday.
According to the currency dealers, the dollar did not observe any change in its demand and supply situation that helped its stability against the rupee. The dollar was traded at its day earlier closing of Rs 100.75 and Rs 101.00 on buying and selling side, respectively.
However, the rupee showed strength and was appreciated against the pound sterling. The pound was purchased and sold at Rs 152.00 and Rs 153.00 against Tuesday closing of Rs 156.00 and Rs 156.25, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI:
The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 101.30 (buying) and Rs 101.40 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101.30 (buying) and Rs 101.40 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 159 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 159 (selling).
Copyright Business Recorder, 2015