20000224

ISLAMABAD

The rupee remained pegged against the dollar with moderate turnover in the money markets of twin cities on Wednesday.

The market started the day at Rs 54.30 (buying) as compared to same overnight value. The dollar was sold at Rs 54.35 as compared to Tuesday's rate.

Dealers said the market resumed trading on a healthy note following participation of genuine buyers and sellers in the first session. The trade volume contracted in the evening session and the market managed to close in plus territory.

Dealers said the fresh supply resulted in a comparatively better dollar in the kerb.

However, any motivating factor on the economic front will help the rupee to gain strength in kerb.

British currency resumed trading at Rs 87.50 (buying) as compared to previous Rs 87.60. It moved within the range of Rs 87.50 and Rs 87.60 and was sold at Rs 87.90.

UAE dirham started the day at Rs 14.82 and sellers offered two paisa more at Rs 14.84. Saudi riyal was bought and sold at Rs 14.48 and Rs 14.52 respectively.

German mark continued its upward journey in kerb as it resumed trading at Rs 27.90 as compared to previous Rs 27.75. Mark moved in a tight band and was sold at Rs 28.10.

Japanese yen opened at Re 0.49 and was sold at Re 0.50 in both sessions.