THE RUPEE: firm trend

Firmness prevailed on the money market on Wednesday as the rupee stayed put versus the dollar, dealers said. The rupee was almost unchanged in relation to the dollar for buying and selling at Rs 104.85 and Rs 04.86 respectively, they said.
INTERBANK MARKET RATES: In third Asian trade, the Sri Lankan rupee ended weaker on Wednesday led by usual importer dollar demand, but dealers said depreciation pressure on the currency has eased on strong inflows from foreign borrowings. Rupee forwards were active, with spot-next forwards ending at 152.85/90 per dollar, compared with Tuesday's close of 152.70/80. The dollar was trading against the Indian rupee at Rs 64.025, the greenback was at 4.313 in terms of the Malaysian ringgit and the US currency was at 6.887.
OPEN MARKET RATES: The rupee did not move any side against the dollar for buying and selling at Rs 105.90 and Rs 106.10 respectively, but it shed 25 paisas in terms of the euro for buying at Rs 117.00 and it, however, gained the same amount for selling at Rs 118.00 respectively, they said.

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Open Bid       Rs.105.90

Open Offer     Rs.106.10

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

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Bid Rate       Rs.104.85

Offer Rate     Rs.104.86

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RUPEE IN LAHORE: The Pak rupee stayed unchanged on buying side while it depreciated on selling side against the US dollar on the local currency market on Wednesday.
The dollar resumed trading on its overnight closing trend of Rs 106.00 and Rs 106.25 as its buying and selling rates respectively, the dealers said. At the close, no change in its value took place on selling counter as it sustained its opening rate of Rs 106.00. However, it remained depressed on selling counter and further declined to Rs 106.40, they added.
Furthermore, the local currency showed mixed patterns as it moved both ways versus the pound sterling. The British currency was bought and sold at Rs 136.65 and Rs 137.40 against Tuesday's closing rates of Rs 136.15 and Rs 137.70 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of dollar further improved against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 106.05 (buying) and Rs 106.15 (selling) against last rate of Rs 105.95 (buying) and Rs 106.05 (selling). It closed at Rs 106.05 (buying) and Rs 106.15 (selling).
Pound Sterling opened at Rs 135 (buying) and Rs 135.50 (selling). It closed at the same rate.
Copyright Business Recorder, 2017