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KARACHI: On Wednesday, Pakistan Rupee continued to further lose value in both interbank and open markets. INTER-BANK MARKET RATES: RATES: In the interbank market, Pakistan Rupee weakened by 20 paisas for both buying and selling against USD over Tuesday's rates closing at 164.40 and 164.70 respectively. OPEN MARKET RATES: In the open market, PKR weakened by 30 paisas for buying and by 40 paisas for selling against USD over Tuesday's rates closing at 164.30 and 164.90 respectively. Against Euro, PKR lost two rupees for buying and 1.50 rupees for selling closing at 184 and 185.50 respectively. Against UAE Dirham, PKR weakened by 10 paisas for both buying and selling closing at 44.10 and 44.40 respectively. Against Saudi Riyal, PKR weakened by 10 paisas for both buying and selling as well closing at 43.10 and 43.40 respectively.

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Open Bid       Rs 164.30

Open Offer     Rs 164.90

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.

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Bid Rate       Rs 164.40

Offer Rate     Rs 164.70

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RUPEE IN LAHORE: The Pak rupee depreciated its worth versus major currencies including the greenback and the British pound in the local currency market on Wednesday.

According to currency dealers, the short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 164.20 and Rs 165.50 against the overnight closing rate of Rs 163.60 and Rs 165.00 respectively.

In addition, the rupee remained under selling pressure for the third consecutive day against the pound sterling. Consequently, the pound's buying and selling rates drastically rose from the Tuesday's closing trend of Rs 204.00 and Rs 205.50 to Rs 206.20 and Rs 207.90 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 25 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.

The dollar opened at Rs165.25 (buying) and Rs 165.35 (selling) against last rate of Rs165 (buying) and Rs 165.10 (selling).

It closed at Rs165.25 (buying) and Rs 165.35 (selling).

The buying and selling rates of one tola of gold were Rs 106,200 (selling) and Rs 106,000 (selling) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020