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KARACHI: On Wednesday, PKR bounced back against USD in both interbank and open markets. This was opposite to global trend where dollar gained strength against major currencies ahead of Federal Reserve policy decision due later in the day. This strength however is expected to be short term by experts as US Federal Reserve is expected to maintain its ongoing policy. PKR remained unchanged against Euro in Pakistan open market while also going up against AED and SR.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee gained 80 paisas for both buying and selling against USD over yesterday’s rates closing at 153.40 and 153.50 respectively.

OPEN MARKET RATES: In the open market, PKR gained 70 paisas for both buying and selling over yesterday’s rates closing at 154.30 and 154.80 respectively.

Against Euro, PKR remained unchanged for both buying and selling closing at 185 and 186.50 respectively.

Against UAE Dirham, PKR gained 25 paisas for both buying and selling closing at 41.70 and 42 respectively.

Against Saudi Riyal, PKR gained 25 paisas for buying and 30 paisas for selling closing at 40.75 and 41 respectively.

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Open Bid       Rs 154.30
Open Offer     Rs 154.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday

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Bid Rate       Rs 153.40
Offer Rate     Rs 153.50
========================

RUPEE IN LAHORE: The Pak rupee recovered its day earlier losses on the buying side while it stayed unchanged on the selling side in relation to the greenback in the local currency market on Wednesday.

According to currency dealers, the greenback lost 40 paisas for buying and closed at Rs 154.20 against the opening rate of Rs 154.60 whereas it did not witness any change and firmly closed for selling at Rs 155.50.

Moreover, the national currency showed strength as it appreciated its worth versus the pound sterling. At the close, the pound’s buying and selling rates declined from Tuesday’s closing of Rs 214.00 and Rs 215.70 to Rs 212.50 and Rs 214.00 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 20 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.

The dollar opened at Rs155.40(buying) and Rs 155.50(selling) against last rate of Rs155.20(buying) and Rs 155.30(selling).

It closed at Rs155.40(buying) and Rs 155.50(selling).

The buying and selling rates of one tola of gold were Rs. 99,700 (selling) and Rs 99,500(buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2021

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