The dollar managed to recover some ground against the rupee on the money market on Tuesday in the process of trading, dealers said. Slight improvement was seen in the demand for dollars, forcing the rupee to give up some gains, money experts said.
INTERBANK MARKET RATES: The rupee drifted lower versus the dollar by 35-paisa for both buying and selling at Rs 98.10 and Rs 98.15, they said.
OPEN MARKET RATES: In sympathy with the interbank market rates, the rupee shed 25-paisa versus the dollar for buying at Rs 99.50 and it also fell by 20-paisa for selling at Rs 99.70, the said. The rupee, however, gained 10-paisa against the euro for buying at Rs 136.65 and it also shed five-paisa for selling at Rs 136.95, they said.
In the second Asian trade, the dollar held at two-week highs against a basket of major currencies after a subdued session overnight, with many global financial centres shut for the Easter long-weekend holiday. Traders expect a slow start with no major economic data out of Asia, although Australian inflation numbers, a survey on China’s manufacturing sector and an interest rate review in New Zealand over the next two days should provide some interest.
The dollar was trading against the Indian rupee at Rs 60.69, the greenback was at 3.2605 in terms of the Malaysian ringgit and the US was at 6.234 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday: 77.6525-77.6600 (77.65-77.66). Call Money Rates: 07.00-08.25 percent (previous 06.25-08.25 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
RUPEE IN LAHORE: The Pak rupee-dollar parity stayed unchanged amid low trading activity on the local currency market on Tuesday.
According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 99.50 and Rs 100.00 as its buying and selling rates, respectively. The dollar did not observe any change in its rate during the day’s trading and was ended at the opening level, the dealers said.
However, the rupee remained under pressure and was further declined against the pound sterling. The pound’s buying and selling rates were further improved from Monday closing of Rs 166.00 and Rs 167.00 to Rs 166.50 and Rs 167.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Tuesday. The dollar opened at Rs 98.50 for buying and Rs 98.60 for selling against same last rate. It did not observe further change in the second session and closed at Rs 98.50 for buying and Rs 98.60 for selling. Pound Sterling opened at Rs 165 (buying) and Rs 165.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.