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The rupee moved both ways against the dollar on the money market on Wednesday in the process of trading activity, dealers said.

INTER-BANK MARKET RATES: RATES: The rupee appreciated by 10 paisas versus the dollar for buying and selling at Rs 154.51 and Rs 154.53 respectively, they said.

OPEN MARKET RATES: While, the rupee sustained overnight levels in relation to the dollar for buying and selling at Rs 154.60 and Rs 154.90 respectively, they said. The rupee picked up 20 paisas in terms of the euro for buying and selling at Rs 170.80 and Rs 172.30 respectively, they said.

In the third Asian trade, the yen was supported while the yuan was on the back foot on Wednesday as investors tried to assess the risk of the outbreak of a new coronavirus in China disrupting the country's economy and trade partners.

The virus, which causes a type of pneumonia, has spread to cities including Beijing and Shanghai as the number of patients in China more than tripled. More cases were also reported outside China, including the United States.

Against the yen, the US dollar slipped to 109.86 yen from Tuesday's high of 110.23. The euro stood at $1.1083, after dipping slightly on Monday.

The dollar was trading against the Indian rupee at Rs 71.190, the greenback was available at 4.072 in terms of the Malaysian ringgit and the US currency was at 6.901 versus the Chinese yuan.

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Open Bid Rs 154.60

Open Offer Rs 154.90

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

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Bid Rate Rs 154.51

Offer Rate Rs 154.53

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RUPEE IN LAHORE: The Pak rupee-greenback parity stayed unchanged amid sluggish trading activity in the local currency market on Wednesday.

According to currency dealers, the greenback did not witnessed any change in its demand and supply situation throughout the trading session as it firmly ended at its opening trend for buying and selling at Rs 154.40 and Rs 154.75 respectively.

Moreover, the rupee maintained downward slide for the second consecutive day against the pound sterling. Consequently, the pound's buying and selling rates further improved from the Tuesday's closing of Rs 200.70 and Rs 202.00 to Rs 201.50 and Rs 202.50 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 10paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.

The dollar opened at Rs 155.30(buying) and Rs 155.40(selling) against last rate of Rs 155.20(buying) and Rs 155.30(selling).

It closed at Rs 155.30(buying) and Rs 155.40(selling).

The buying and selling rates of one tola of gold were Rs 90,500(selling) and Rs 90,200(buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020