Firmness prevailed on the money market on Wednesday as the rupee held almost overnight levels against the dollar in the process of trading, dealers said. The rupee inched up with a rise of one-paisa against the dollar for buying and selling at Rs 101.82 and Rs 101.83 respectively, they said.
In the third Asian trade, the dollar eased versus the yen on Wednesday but held above a recent two-week low as investors awaited hints from the US Federal Reserve on the timing and pace of future interest rate increases.
Ahead of the Fed's policy statement due at 1800 GMT, trading could be swayed by month-end related flows, with Wednesday being the last trading day for settlement before the month end, traders said. The dollar eased 0.1 percent to 123.49 yen, but still held above a two-week low of 123.01 yen set on Monday.
The dollar was trading against the Indian rupee at Rs 63.90, the greenback was available at 3.8130 in terms of the Malaysian ringgit and the US currency was at 6.208 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Wednesday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 05.25-6.50 percent (Previous 05.25-06.50 percent).
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Open Bid Rs 101.82
Open Offer Rs 101.83
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Bid Rate Rs 102.70
Offer Rate Rs 102.90
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The dollar resumed trading at Rs 103.05 (buying) and Rs 103.30 (selling) against Rs 103.10 and Rs 103.35 of Tuesday. In the absence of any buyer, the greenback lost its worth in relation to the local currency and closed at Rs 103 and Rs 103.30 on buying and selling counters, respectively.
Likewise, the British pound lost its worth against the Pak rupee. The Pound Sterling was purchased and sold at Rs 158.50 and Rs 159.30 as against Rs 159 and Rs 159.50 on Tuesday.
The dollar opened at Rs 102 (buying) and Rs 102.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 102 (buying) and Rs 102.20 (selling).
Pound Sterling opened at Rs 157 (buying) and Rs 157.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 157 (buying) and Rs 157.50 (selling).