The rupee-dollar parity rates inched down on the local money market on Tuesday in the process of trading, dealers said. It was observed that the dollar came under pressure versus the rupee on comfortable supply of the US currency, and expectations for aid from friendly countries and loans from the International Monetary Fund (IMF) boosted the rupee, money experts said.
The local currency went up sharply in terms of dollar during the last two weeks, but there was no specific reason to clarify that consistency in the rupee’s surge, they said, adding that today, the rupee drifted lower but cautiously.
INTERBANK MARKET RATES: The rupee dropped by seven-paisa in relation to the dollar for buying at Rs 98.07 and it also shed five-paisa for selling at Rs 98.10, they said.
OPEN MARKET RATES: Similarly, the rupee’s performance matched with the interbank trend as it slipped by five-paisa level versus the dollar for buying at Rs 99.95 and lost 10-paisa for selling at Rs 100.20, they said.
Incidentally, the rupee dropped by five-paisa in terms of the euro for buying and selling at Rs 139.25 and Rs 139.75, they said. In the second Asian trade, the dollar held steady against a basket of major currencies, keeping a low profile after slipping on the previous day in the wake of a disappointing reading on US manufacturing activity. The dollar index last fetched 79.952, having backed away from Monday’s session high of 80.290 and a three-week peak of 80.354 set last Thursday.
The dollar was trading against the Indian rupee at Rs 60.50, the greenback was at 3.2990 versus the Malaysian ringgit and the US currency was at 6.1827 against the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday: 77.67-77.68 (77.67-77.68). Call Money Rates: 06.25-07.75 percent (previous 05.80-07.90 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
RUPEE IN LAHORE: The national currency maintained upward slide and gained 80-paisa against the greenback on the local currency market on Tuesday.
According to the currency dealers, the dollar was opened on a depressed note and remained under pressure due to lacking buyers’ interest. At close of trading, the dollar was ended further lower at Rs 100.00 and Rs 100.70 on buying and selling side against the overnight closing of Rs 100.80 and Rs 101.50 of Monday, respectively, the dealers said.
However, the rupee remained weak and suffered further decline on buying side while it stayed unchanged on selling side against the pound sterling. The pound was traded at Rs 166.70 and Rs 167.50 on buying and selling counters compared with day earlier closing of Rs 166.50 and Rs 167.50, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 100 for buying and Rs 100.10 for selling against same last rate. It did not observe further change in the second session and closed at Rs 100 for buying and Rs 100.10 for selling.
Pound Sterling opened at Rs 165 for buying and Rs 165.50 for selling against same last rate. It closed at the same rate without further change by the end of evening session.