The rupee appreciated against the dollar on the money market on Wednesday in the process of trading, dealers said.
In the third Asian trade, the safe-haven yen held firm and riskier Asian currencies softened a little on Wednesday, as currency investors awaited the signing of the US-China trade deal with trepidation.
The formal agreement is aimed at drawing a line underneath 18 months of tit-for-tat tariff hikes that have hurt global growth.
But hopes that it may herald warmer relations between the world's top two economies were dented late Tuesday when US Treasury Secretary Steven Mnuchin said that current tariffs on Chinese goods would stay, pending further talks.
That toppled China's trade-sensitive yuan from a six-month peak and lifted the yen from a seven-month trough. But moves in morning trade were slight as markets wait to see the deal inked.
The dollar was trading against the Indian rupee at Rs 70.880, the greenback was at 4.077 versus the Malaysian ringgit and the US currency was available at 6.895 in terms of the Chinese yuan.
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Open Bid Rs 154.70
Open Offer Rs 155.00
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Bid Rate Rs 154.76
Offer Rate Rs 154.79
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According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 154.75 and Rs 155.10 as its buying and selling rate, respectively. The dollar did not observe visible change in its demand and supply behaviour throughout the day. However, at close of trading, the dollar slightly declined and ended at Rs 154.70 on buying side while it remained unchanged at its opening level of Rs 155.10 on selling side.
Similarly, the rupee showed stability and remained unchanged on buying side while it was declined on selling side against the pound sterling. The pound was traded at Rs 200.20 and Rs 202.40 on buying and selling counter against the previous closing of Rs 200.20 and Rs 202.40, respectively, the dealers added.
The dollar opened at Rs 155.35(buying) and Rs 155.45(selling) against last rate of Rs 155.25(buying) and Rs 155.35(selling).
It closed at Rs 155.35(buying) and Rs 155.45(selling).
The buying and selling rates of one tola of gold were Rs 89,200 (selling) and Rs 89,000(buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.