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The rupee drifted lower against the dollar on the open market on Wednesday in the process o trading activity, marketmen said.

INTER-BANK MARKET RATES: The rupee held the overnight levels in terms of the dollar for buying and selling at Rs 155.32 and Rs 155.34 respectively, they said.

In the third Asian trade, the dollar posted modest gains on Wednesday, as traders looked ahead to a possible outcome to drawn out US-China trade talks, while a forecast for monetary policy easing knocked the Aussie.

Against the yen, the dollar traded at 109.12 yen, off a two-week high of 109.205 hit on Tuesday. The greenback had found support on signs Washington and Beijing were moving closer to signing a deal to end their 16-month trade spat.

The dollar was available against the Indian rupee at Rs 71.408, the greenback was at 4.180 in terms of the Malaysian ringgit and the US dollar was trading versus the Chinese yuan at 7.030.

OPEN MARKET RATES: The rupee lost 20 paisas in relation to the dollar for buying and selling at Rs 155.40 and Rs 155.70 respectively, they said. The rupee was trading versus the euro for buying and selling at Rs 170.60 and Rs 172.10 respectively, they observed.

========================
Open Bid       Rs.155.40
Open Offer     Rs.155.70
========================

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

========================
Bid Rate       Rs.155.32
Offer Rate     Rs.155.34
========================

RUPEE IN LAHORE: The Pak rupee marginally declined its worth against the American dollar in the open currency market on Wednesday.

Following slight decrease in buyers' interest in the market, the dollar gained five paisas and ended higher at Rs 155.35 and Rs 155.60 against the overnight closing rate of Rs 155.30 and Rs 155.55 respectively, local currency dealers said.

In addition, the national currency witnessed divergent trend as it moved both ways in relation to the pound sterling. The British currency was bought and sold at Rs 199.25 and Rs 199.80 against the Tuesday's closing rate of Rs 199.20 and Rs 200.30 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 5 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday.

The dollar opened at Rs 155.70(buying) and Rs 155.75(selling) against last rate of Rs 155.75(buying) and Rs 155.80(selling).

It closed at Rs 155.70(buying) and Rs 155.75(selling).

The buying and selling rates of one tola of gold were Rs. 85,500(selling) and Rs 85,200 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2019