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ISLAMABAD

The rupee remained firm against the dollar in the currency exchange establishments of twin cities on Wednesday.

The markets of Islamabad and Rawalpindi resumed trading with a dollar stagnant at Rs 53.95 as compared to Tuesday's rate of Rs 54. Sellers were ready to offload their positions at Rs 54.05 as compared to overnight's Rs 54.10.

Dealers said that Islamabad market started the morning session on an extraordinary healthy note due to the participation of buyers and sellers. The coming holidays of Eid-ul-Azha forced the genuine sellers and profit seekers to square their positions on the second last trading day. The trade volume expanded in the evening session and the market finally closed on a better note.

They said that demand of ever-favourite greenback further decreased in the kerb as sellers outclassed buyers in both morning and evening sessions.

Pound sterling slightly recovered its value as it opened at Rs 85.45 as compared to last rate of Rs 85. It moved within the range of Rs 85.45 and Rs 85.55 and was sold at Rs 85.85.

UAE dirham was bought and sold at Rs 14.78 and Rs 14.80 respectively, while Saudi currency opened at Rs 14.48 (buying) and sellers offered 4 paisa more at Rs 14.82.

Japanese currency started the day at Re 0.508 and was finally sold at Re 0.509.

Rawalpindi market resumed trading on a depressed note following dull activity in the first session. Moderate number of buyers and sellers of greenback visited the city market in the second session and market closed on a moderate note.

Dollar was bought and sold at Rs 54.05 and Rs 54.10 respectively while other currencies moved in a tight band, city dealers stated.