No respite was seen in erosion of the value of the rupee versus the dollar on the money market on Wednesday in the process of trading, dealers said. The rupee almost held the present levels in relation to the dollar for buying and selling at Rs 110.51 and Rs 110.53 respectively, they said. In third Asian trade, the euro eased on Wednesday to take a breather from a rally prompted by optimism over the euro zone's economy and expectations the European Central Bank will wind down its bond-buying stimulus in 2018.

INTER-BANK MARKET RATES: The euro slipped 0.1 percent to $1.2048. The currency hit a four-month high of $1.2081 on Tuesday, marking a gain of roughly 3 percent from a mid-December trough and bringing it close to a September high of $1.2092, the currency's highest level since early 2015.

The euro was also supported by expectations for a shift in ECB monetary policy this year.

The dollar was trading against the Indian rupee at Rs 63.510, the greenback was available at 4.024 and the US currency was at 6.504 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 82.70-82.70 (Previous 82.70-82.70).

OPEN MARKET RATES: The rupee lost 20 paisas in terms of the dollar for buying and selling at Rs 111.20 and Rs 111.50 respectively, they said.

The rupee, however, gained 30 paisas versus the euro for buying and selling at Rs 132.20 and Rs 134.20 respectively, they added.

========================

Open Bid       Rs.111.20

Open Offer     Rs.111.50

========================

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

========================

Bid Rate       Rs.110.51

Offer Rate     Rs.110.53

========================

RUPEE IN LAHORE: The Pak rupee stayed unchanged on buying side while it further slid on selling side in terms of the greenback in the local currency market on Wednesday.

According to currency dealers, the greenback resumed trading of its overnight closing trend of Rs 110.80 and Rs 111.40 as its buying and selling rates, respectively. At the close, it firmly held its opening rate for buying at Rs 110.80. However, it further appreciated by 10 paisas for selling at Rs 111.50, they added.

Moreover, the local currency remained under pressure for the second consecutive day versus the pound sterling. Consequently, the pound's buying and selling rates slipped from Tuesday's closing of Rs 148.00 and Rs 148.80 to Rs 148.50 and Rs 149.80 respectively, they said.

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

The dollar opened at Rs 110.65 (buying) and Rs 110.75 (selling) against same last week's rate. It closed at Rs 110.65 (buying) and Rs 110.75 (selling).

Copyright Business Recorder, 2018