THE RUPEE: all-round gains

Thursday, September 03, 2009

KARACHI: The rupee retained its firmness against dollar on the currency market on Wednesday, dealers said. On the interbank market the rupee extended its gains, rising 22 paisa versus dollar for buying at 82.70 and rose by 23 paisa for selling at 82.75, dealers said. In the third Asian trading session yen retreated from a seven-week high against dollar and euro, pushed back after economic growth in Australia supported the case for an early rise in rates and powered the Australian dollar higher.

Most regional shares fell as concerns about the financial sector outweighed data showing growth in the US manufacturing sector and dragged Wall Street down, sending the low-yielding yen up against riskier currencies initially.

OPEN MARKET RATES: The rupee managed to gain 30 paisa against dollar for buying and selling at 82.70 and 82.80, dealers said. The rupee also picked up 20 paisa versus euro for buying and selling at Rs 117.15 and Rs 117.65, they said.

Open Buying Rs 82.70

Open Selling Rs.82.80

Interbank Closing Rates: Interbank Closing Rates For Dollar On Wednesday

Buying Rs.82.70

Selling Rs.82.75

(BRecorder)