INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee maintained firm trend in terms of the dollar for buying and selling at Rs 105.90 and Rs 106.10, they said. The rupee extended overnight losses in relation to the euro for buying and selling at Rs 114.75 and Rs 116.26, they said.
In the third Asian trade, The dollar edged higher against the yen, while the euro held firm near a 5-1/2 month high due to receding concerns about the risks posed by the French presidential election. The dollar rose 0.3 percent to 111.38 yen, pulling further away from a five-month low of 108.13 yen set on April 17. In a sign of the global bullish sentiment, the Nasdaq Composite hit a record high on Tuesday, while the Dow Jones Industrial Average and S&P 500 brushed against recent peaks, bolstered by strong corporate earnings. Still, it remains to be see whether the dollar will see a sustained push higher against the yen, said Teppei Ino, analyst for Bank of Tokyo-Mitsubishi UFJ in Singapore.
The focus will be on forthcoming US economic data, especially after a softening in some recent indicators, he added. The Trump administration's plans for tax reforms are another focal point for markets. The dollar was trading against the Indian rupee at Rs 63.990, the greenback was available at 4.352 in terms of the Malaysian ringgit and the US currency was at 6.886 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday. 80.13-80.13 (previous 80.03-80.03).
========================
Open Bid Rs.105.90
Open Offer Rs.106.10
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
========================
Bid Rate Rs.104.84
Offer Rate Rs.104.85
========================
RUPEE IN LAHORE: The Pakistani rupee showed strength as it appreciated versus the US dollar in the local currency market on Wednesday.
The local currency dealers said the US dollar resumed trading on a negative note and kept on declining during the day's trading session. In the absence of buyers' interest, it slid to Rs 105.80 and Rs 106.10 on buying and selling sides, respectively, as compared to the overnight closing rates of Rs 106.00 and Rs 106.40 respectively, they added.
Furthermore, the national currency stayed unchanged on buying side while it depreciated on selling side against the pound sterling. The British currency was bought and sold at Rs 134.60 and Rs 135.50 against Rs 134.60 and Rs 135.30 of Tuesday, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee further gained strength against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday. The dollar opened at Rs 105.80 (buying) and Rs 106 (selling) against last rate of Rs 106.25 (buying) and Rs 106.35 (selling). It closed at Rs 105.80 (buying) and Rs 106 (selling) by the end of evening session. Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It closed at the same rate.