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ISLAMABAD

The rupee showed marginal gains against the dollar in the money markets of the twin cities amid lacklustre active on Wednesday.

The markets started the day with a moderate greenback at Rs 54.10 as compared to Tuesday's Rs 54.12. Sellers offered five paisa more at Rs 54.15 as compared to last rate of Rs 54.17.

The dealers said the markets continued to show negative trend with further contraction in volume in both sessions. Islamabad and Rawalpindi markets opened lower as small number of buyers and sellers visited the local kerb in the first session. The market remained in minus territory throughout the day and hence closed on a negative note.

Dealers said overall trading activity has been considerably affected for the last few days. On the other hand, manipulators and profit hunters adopted the wait-and-see policy.

A leading money changer said that currently there are no genuine buyers and sellers in the kerb. Major players as well as margin hunters seems to be not interested in trading of the dollar and other currencies and preferred to remain on the sidelines.

Pound sterling slightly recovered against the rupee as it resumed trading at Rs 85.20 as compared to last rate of Rs 85.25. It moved within the range of Rs 85.20 and Rs 85.30 and was sold at Rs 85.40.

UAE dirham was bought and sold at Rs 14.78 and Rs 14.82 respectively. Saudi riyal opened at Rs 14.46 and sellers offered four paisa more at Rs 14.50.

German mark maintained its overnight value as it started the day at Rs 26.95 and was sold at Rs 27.10.

Japanese yen moved within Re 0.505 and was sold at Re 0.508 respectively.