THE RUPEE: dollar rises

The rupee failed to come out of the woods as it continued its slide for the second day in a row due to a strong demand for the dollar on the money market on Tuesday, dealers said. The rupee drifted lower against the dollar, shedding 13-paisa for buying at Rs 98.80 and it also lost 10-paisa for selling at Rs 98.85, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also adopted the same path versus the dollar, falling 10-paisa for buying at Rs 99.35 and it fell by five-paisa for selling at Rs 99.50, while it managed to hold its last levels in terms of the euro for buying and selling at Rs 136.00 and Rs 136.25, they said.

In the second Asian trade, the yen held near a 3 1/2-month high against the dollar and the euro on Tuesday, supported by diminishing expectations of stimulus by the Bank of Japan as well as falling US and European bond yields. The dollar traded at 101.54 yen, a day after falling to 101.10 yen, its lowest level since early February-briefly breaking below its 200-day moving average at 101.25 yen.

The dollar was trading against the Indian rupee at Rs 58.64, the greenback was at 3.2130 in terms of the Malaysian ringgit and the US currency was available at 6.2378 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 77.6300-77.6325 (77.63-77.64). Call Money Rates: 05.70-07.25 percent (previous 05.50-07.25 percent).

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

RUPEE IN LAHORE: The national currency failed to maintain its position and remained under pressure against the major currencies including US dollar and British pound on the local currency market on Tuesday.

According to the currency dealers, the dollar commenced trading at its overnight closing of Rs 99.25 and Rs 99.50 as its buying and selling rates, respectively. As a result of fresh demand, the dollar rate was ended higher at Rs 99.30 and Rs 99.55 on buying and selling side, respectively, the dealers said.

Similarly, the rupee maintained downward slide for another day and was declined against the pound sterling. The pound’s buying and selling rates were improved from Monday closing of Rs 166.25 and Rs 166.50 to Rs 166.75 and Rs 167.00, respectively, the dealers 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 (buying) and Rs 98.60 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 98.50 (buying) and Rs 98.60 (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.

Recorder Report