Thursday, June 18, 2009
KARACHI: The rupee moved both ways on the currency market on Wednesday in process of trading, dealers said. On the interbank market the rupee firmly held its overnight levels against dollar for buying and selling at 81.05 and 81.10, they said. The local currency may drift lower but likely to trade in the range of 81.10 and 81.20 in the near future, they said.
During the third Asian session a rally in euro lost steam on Wednesday and major currencies struggled for direction as the market tried to decide whether a pause in dollar's medium-term slide was over or had a little further to run. The dollar has fallen steeply against major currencies such as euro and Australian dollar this year, with investors unwinding safe-haven dollar positions as the worst of the economic crisis faded and as questions arose over its suitability as the reserve currency.
During the third Asian session a rally in euro lost steam on Wednesday and major currencies struggled for direction as the market tried to decide whether a pause in dollar's medium-term slide was over or had a little further to run. The dollar has fallen steeply against major currencies such as euro and Australian dollar this year, with investors unwinding safe-haven dollar positions as the worst of the economic crisis faded and as questions arose over its suitability as the reserve currency.
Open Market Rates: The rupee continued weakness against dollar, losing 10 paisa for buying at 81.20 and five paisa for selling at 81.30, they said. The rupee, however, failed to retain its firmness in terms of euro, losing 70 paisa for buying at 112.00 and selling at Rs 113.00, they said.
Open Buying Rs 81.20
Open Selling Rs 81.30
Interbank Closing Rates: Interbank Closing Rates For Dollar On Wednesday.
Buying Rs 81.05
Selling Rs 81.10
Open Buying Rs 81.20
Open Selling Rs 81.30
Interbank Closing Rates: Interbank Closing Rates For Dollar On Wednesday.
Buying Rs 81.05
Selling Rs 81.10
(BRecorder)
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