An easier trend prevailed on the money market on Wednesday as the rupee depicted weakness against the dollar in process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee continued declining trend against the dollar, losing more 11 paisas for buying and selling at Rs 138.84 and Rs 138.86, they said.
OPEN MARKET RATES: The rupee did not budge any side in relation to the dollar for buying and selling at Rs 138.50 and Rs 139.00, they said. The rupee was unchanged against the euro for buying at Rs 156.00, while it shed 50 paisas for selling at Rs 157.80, they said.
In the third Asian trade, the dollar held gains against its peers on Wednesday, buoyed by better-than-expected data, while the Aussie took a knock after Australia's economic growth slowed last quarter.
The Aussie also fell almost 0.8 percent against the Japanese yen. Its sharp losses spread to the New Zealand dollar, with the kiwi last down half a percent at $0.6763.
On Tuesday, the US dollar rose as unexpectedly strong data on US services industries and new home sales helped sooth some fears about the state of the world's top economy.
The dollar index, which measures the greenback against a basket of six major peers, gained for the fifth straight session overnight, hitting a two-week high of 97.008. It last traded at 96.93 on Wednesday.
The dollar was trading against the Indian rupee at Rs 70.540, the greenback was at 4.087 versus the Malaysian ringgit and the US currency was available at 6.715 in terms of the Chinese yuan.
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Open Bid Rs.138.50
Open Offer Rs.139.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Bid Rate Rs.138.84
Offer Rate Rs.138.86
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RUPEE IN LAHORE: The Pak rupee remained unchanged on buying side while it appreciated its worth on selling side in relation to the greenback on the local currency market on Wednesday.
According to currency dealers, the greenback remained unchanged for another day for buying at Rs 139.00 whereas it lost 10 paisas and ended lower for selling at Rs 139.60 against the overnight closing rate of Rs 139.70.
Moreover, the local currency moved both ways against the pound sterling which was bought and sold at Rs 181.60 and Rs 182.60 against the opening trend of Rs 181.50 and Rs 182.80 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 15paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs138.70(buying) and Rs 138.80(selling) against last rate of Rs138.85(buying) and Rs 138.95(selling). It closed at Rs138.70(buying) and Rs 138.80(selling).
The buying and selling rates of one tola of gold was Rs. 69,200 (selling) and Rs 69,000(buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
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