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The rupee managed to gain slightly against the dollar on the local currency market on Wednesday in the process of trading activity, dealers said.

INTER-BANK MARKET RATES: The rupee picked up four paisas in relation to the dollar for buying and selling at Rs 155.38 and Rs 155.42 respectively, they said.

OPEN MARKET RATES: The rupee was unchanged in terms of the dollar for buying and selling at Rs 155.20 and Rs 155.50 respectively, they said. The rupee rose by 20 paisas in relation to the euro for buying and selling at Rs 170.30 and Rs 171.80 respectively, they said.

In the third Asian trade, the beaten-up New Zealand dollar soared one percent on Wednesday after the central bank unexpectedly left interest rates on hold, while most other major currencies were little changed.

But after two cuts this year, the Reserve Bank of New Zealand said it saw no urgency to ease policy again.

The dollar was trading against the Indian rupee at Rs 71.700, the US currency was available at 4.151 versus the Malaysian ringgit and the greenback was at 7.018 in terms of the Chinese yuan.

========================
Open Bid       Rs.155.20
Open Offer     Rs.155.50
========================

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

========================
Bid Rate       Rs.155.38
Offer Rate     Rs.155.42
========================

RUPEE IN LAHORE: The Pak rupee depreciated its worth on buying side while it remained firmed on selling side in relation to the US dollar in the local currency market on Wednesday.

According to currency dealers, the dollar gained 15 paisas and ended higher for buying at Rs 154.90 against the opening rate of Rs 154.75 whereas it stayed unchanged for selling at Rs 155.30.

Furthermore, the local currency witnessed declining trend throughout the trading session against the pound sterling. Consequently, the pound's buying and selling rates rose from the Tuesday's closing of Rs 198.20 and Rs 199.00 to Rs 198.55 and Rs 199.30 respectively, they added.

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

The dollar opened at Rs 155.65(buying) and Rs 155.75(selling) against same last week's rate.

It closed at Rs 155.65(buying) and Rs 155.75(selling).

The buying and selling rates of one tola of gold were Rs. 86,750(selling) and Rs 86,500 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2019