Written by Ayaz Ali Messam Wednesday, 16 June 2010 15:47
Pakistani Currency Vs US Currency: Demand of US currency declined as rupee recovered 0.10 paisas against greenback in the currency exchange market today. The American dollar opened new day’s trading at Rs.85.35, shed grounds amid depreciation in its demand and changing hands at Rs.85.25 at close of markets on Wednesday. Thus, rupee ended the day on a positive note versus dollar. On the international desk, the housing data from the US released that depicted 10 percent drop, the biggest decline since March 2009, to a 593,000 annual rate, from a revised 659,000 pace in April that was less than previously estimated, Commerce Department figures showed.
Pakistani Rupee Vs UAE Dharam: UAE Dharam gave up major grounds on demand concern versus rupee in the open market dealings today. The Emirate’s currency set off trading at its yesterday’s closing rate of at Rs.23.22, shed singifiant grounds and was changing hands at Rs.23.12 by incurring a loss of 0.10 paisas at close of makres on Wednesday. Overall, rupee recovered 0.10 paisas versus Dharam today, however gave up 0.11 paisas in a single day versus Dharam on Tuesday.
Pakistani Rupee Vs British Pound Sterling: The British currency shed mere grounds versus rupee amid drop in its demand in the currency rate market today. Pound Sterling kicked off today’s trading at its overnight closing rate of Rs.124.90, gave up grounds and trading at Rs.124.80 at close of markets. Thus rupee recovered 0.10 paisas versus the cable in the dealings. In the international market, the Pound Sterling appreciated 0.5 percent against Euro.
Pakistani Rupee Vs Euro: As expected, euro couldn’t constant gain versus the national currency amid downward trend in its demand in the kerb dealings. The single currency was trading at Rs.102.80 at close of markets by incurring loss of 0.10 paisas on Wednesday. In the global markets today, the euro lost its shine and the bonds of Spain, Portugal and Greece fell on concern Europe’s deficits will continue. The euro shed 0.5 percent to $1.2269 as of 8:47 a.m. in New York. The euro declined by 0.5 percent against the Swiss franc and the pound, and 0.3 percent compared with the yen. The shared currency of Euro zone has weakened 14 percent this year against the dollar. Moreover, The EU rejected a report that the IMF, the EU and the U.S. are putting together a 250 billion-euro ($307 billion) credit line for Spain.