THE RUPEE: mixed patterns

Rates moved both ways on the currency market on Tuesday in the process of trading, dealers said. The rupee shed two-paisa in terms of dollar for buying at Rs 96.20 and it also dropped five-paisa for selling at Rs 96.25, dealers said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, gained 50-paisa in relation to the dollar for buying and selling at 97.50 and Rs 97.75. It also recovered one rupee against the euro for buying and selling at Rs 133.25 and Rs 133.75.

In the second Asian trade, the dollar inched higher versus a basket of major currencies staying on firm footing after US retail sales data the previous day signalled a brighter outlook for the US economy. US retail sales recorded their largest gain in 1-1/2 years in March, the latest data to suggest growth was set to spring back in the second quarter after an unusually harsh winter. The dollar index edged up 0.1 percent to 79.791, holding above Monday’s intraday low of 79.562.

The dollar was trading against the Indian rupee at Rs 60.30, the greenback was at 3.2470 in terms of the Malaysian ringgit and the US currency was available at 6.221 against the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday: 77.67-77.6725 (77.67-77.67). Call Money Rates: 06.75-08.25 percent (previous 05.00-08.50 percent).

Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.

RUPEE IN LAHORE: The national currency showed strength and appreciated its worth against the major currencies including US dollar and British pound on the local currency market on Tuesday.

According to the currency dealers, the dollar resumed trading on a negative note and remained under pressure due to lacking buyers’ interest. At close, the dollar was ended lower at Rs 97.50 and Rs 97.75 as its buying and selling rates against Rs 98.20 and Rs 98.70 of Monday, respectively.

Similarly, the Pak rupee maintained upward move and was further improved against the pound sterling. The pound’s buying and selling rates were declined from overnight closing of 163.50 and Rs 163.75 to Rs 161.60 and Rs 161.85, respectively, the dealers said.

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 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.

Recorder Report