THE RUPEE: little movement

Marginal changes were seen on the money market on Tuesday as the rupee tended cautiously versus the dollar in the process of trading, dealers said. The rupee gained one-paisa versus the dollar for buying at Rs 98.82 while it picked up two-paisa for selling at Rs 98.84, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, shed five-paisa against the dollar for buying at Rs 99.60 and it also depreciated by 10 paisa for selling and Rs 99.85, dealers said. While, the rupee gave up overnight firmness in relation to the euro for buying and selling at Rs 135.80 and Rs 136.05, they said.

In the second Asian trade, the euro bounced back from a three-month low against the dollar, but the uptick failed to relieve persistent pressure from expectations of monetary easing by the European Central Bank next week. The common currency climbed to $1.3656, from Monday’s three-month low of $1.3615. Against the yen, it traded at 139.24, off a low of 138.73. Just last week, the euro hit a three-month trough of 138.1.

The dollar was trading against the Indian rupee at Rs 58.98, the US currency was at 3.2125 in terms of the Malaysian ringgit and the greenback was at 6.2420 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday: 77.63-77.6325 (77.63-77.63). Call Money Rates: 05.75-07.25 percent (previous 05.75-07.25 percent).

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

RUPEE IN LAHORE: The Pak rupee maintained upward slide for another day and gained 10-paisa in relation to the greenback on the local currency market on Tuesday.

According to the currency dealers, the dollar was opened on a negative note and remained under selling pressure that helped rupee appreciation. At close of trading, the dollar was ended further lower at Rs 99.55 and Rs 99.80 against Rs 99.65 and Rs 99.90 of Monday, respectively.

However, the rupee failed to maintain upward move and was depreciated against the British pound. The pound’s buying and selling rates were improved from overnight closing of Rs 167.50 and Rs 167.75 to Rs 167.75 and Rs 168.00, 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 (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