Another dull trading session was observed in the absence of dollar’s demand in the currency exchange market on Wednesday. The American currency was continuing to trade at the same price at close of markets. On the international desk, the dollar sold near a four-week low versus the yen before a report that’s forecast to show U.S. new-home sales plunged in May the most in 16 years. The dollar shed 0.5 percent to 90.15 yen at 9:06 a.m. in New York, from 90.57 yesterday. It touched 90.09, near a one- month low of 89.97 reached June 21.

Demand of the cable increased significantly as the Pound sterling crosses 125 mark today and was trading at Rs.125.54 at close of markets. However, the British currency was changing hands at 124.36. Thus, rupee lost Rs.1.18 versus the British pound. The Pound Sterling was changing hands at Rs.124.36 on Tuesday. Thus, pound recorded a loss of Rs.1.09 against the rupee in the exchange Rate market. In the global markets, the pound scored to its strongest level against the euro in more than a week after minutes of the Bank of England’s June meeting showed policy maker Andrew Sentance voted for an interest-rate increase.

More losses were witnessed in the price of Euro as its demand declined in the forex rates market. The single currency touched Rs.102.97 from Rs.103.05. Thus, rupee recovered 0.08 paisas against the common currency of Eurozone.

Mere recovery was seen as UAE Dharam shed 0.01 paisa versus rupee on the local desk. Rupee was trading at 23.13 today as compared to 23.14 yesterday.

Overall, rupee was enjoying good day against major counterparts’ dollar, Dharam and Euro. However, lost grounds versus the cable as after minutes of the Bank of England’s June meeting showed policy maker Andrew Sentance voted for an interest-rate increase.