Firmness prevailed on the money market on Wednesday as the rupee held overnight levels versus the dollar in the process of trading, dealers said. The rupee was unchanged in relation to the dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, they said.
INTER-BANK MARKET RATES: In the third Asian trade, the dollar moved back towards a 14-year peak on Wednesday as US debt yields resumed climbing, giving a lift against the safe-haven yen amid strong investor appetite for riskier assets.
The dollar index against a basket of major currencies was up 0.1 percent at 103.30. The index climbed to a 14-year high of 103.82 the previous day in reaction to the Institute for Supply Management (ISM) numbers, which showed US factory activity accelerated to a two-year high in December. Late on Tuesday, profit-taking on the dollar in the wake of a pullback in US yields had taken the index towards 103.00. The euro was down 0.1 percent at $1.0394 after briefly recovering to $1.0423. It hit a 14-year trough of $1.0340 overnight.
The dollar was available against the Indian rupee at Rs 68.12, the greenback was at 4.4970 in terms of the Malaysian ringgit and the US currency was at 6.9628 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 78.70-78.70 (previous 78.70-78.70).
OPEN MARKET RATES: The rupee stayed put against the dollar for buying and selling at Rs 108.40 and Rs 108.60 respectively, while it lost 25 paisas in terms of the euro for buying and selling at Rs 112.75 and Rs 114.25 respectively, they said.
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Open Bid Rs.108.40
Open Offer Rs.108.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.104.84
Offer Rate Rs.104.85
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RUPEE IN LAHORE: The local currency remained under pressure for the second consecutive day against the greenback in the local currency market here on Wednesday.
According to currency dealers, the greenback resumed trading on a positive note and kept on rising following the lack of buyers' interest in the market. As a result, it further climbed up at Rs 108.40 and Rs 108.80 on buying and selling counters, respectively, as compared to the overnight closing rates of Rs 108.20 and Rs 108.60, respectively, they added.
Moreover, the rupee-pound parity stayed unchanged amid sluggish trading trend in the market. The pound did not witness any change in its demand and supply situation which helped the local currency stabilise. Consequently, its opening trend prevailed till close of trading at Rs 132.00 and Rs 132.50 as its buying and selling rates, respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar showed an improvement of Rs 1 against rupee at currency exchange shops of Islamabad and Rawalpindi here on Wednesday.
The dollar resumed trading at Rs 108 (buying) and Rs 108.50 (selling) against last rate of Rs 107 (buying) and Rs 107.50 (selling). It did not observe further change in evening session and closed at Rs 108 (buying) and Rs 108.50 (selling).
Pound Sterling opened at Rs 135 (buying) and Rs 135.10 (selling) against same last week's rate. It did not observe further change in the second session and closed at Rs 135 (buying) and Rs 135.10 (selling).
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