THE RUPEE: Firm trend

The rupee showed similar trends against the dollar in the currency market on Wednesday for both buying and selling.

INTER-BANK MARKET RATES: The rupee gained 20 paisas against the dollar for buying in the interbank market from Tuesday, closing in at Rs 166.80. However in case of selling, it only gained 10 paisas closing in at Rs 167.30.

OPEN MARKET RATES: As compared to Tuesday, the rupee went up by 50 paisas for buying at Rs 166.30, while it gained 20 pasias for the selling rate, closing at Rs 167, as per the market sources. Rupee was seen trading virtually at similar levels as those on Tuesday against the Euro at Rs 180 and Rs 182 for buying and selling respectively.

Both buying and selling rates for the UAE Dirham against Pakistani rupee went down by 20 paisas, closing at 43.80 and 44.20 respectively. Buying and selling rates against the Saudi Riyal in the open market closed at 41.60 and 42 respectively.

ISLAMABAD

The open currency markets of Islamabad and Rawalpindi resumed trading here on Wednesday.

Most of the currency shops located in Blue Area and other markets remained opened during the day.

The dollar opened at Rs 167 (buying) and Rs 167.10 (selling).

It closed at Rs 167 (buying) and Rs 167.10 (selling). The buying and selling rates of one tola of gold were Rs 95,700 and Rs 95,500 in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.