THE RUPEE: upward trend

An upward trend was seen on the money market on Tuesday, as the rupee posted fresh gain versus the dollar in the process of trading, dealers said. The rupee appreciated by 17-paisa in relation to the dollar for buying at Rs 98.67 and the nation currency picked up 16-paisa for selling at Rs 98.70, dealers said.

INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee adopted the same in relation to the dollar, picking up 50-paisa for buying 98.90 and it also rose by 30-paisa for selling at Rs 99.10, dealers said. The national currency, however, shed 10-paisa against the euro for buying and selling at Rs 137.10 and Rs 137.35, they said.

In the second Asian trade, the dollar hovered near a three-week low versus a basket of currencies as US bond yields struggled to pull away from their recent troughs, with moves subdued in holiday-thinned trade. The dollar index held steady at 79.459, hovering near a low of 79.414 set on May 1, its lowest level since April 11. Against the yen, the dollar slipped 0.1 percent to about 102.02 yen, staying within sight of Monday’s two-week low of 101.86 yen.

The Dollar was trading against the Indian rupee at Rs 60.12, the greenback was available at 3.2555 in terms of the Malaysian ringgit and the US currency was at 6.2288 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 77.65-77.65 (77.65-77.65). Call Money Rates: 05.50-07.50 percent (previous 05.50-07.50 percent).

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

RUPEE IN LAHORE: The Pak rupee appreciated its worth by 10-paisa in relation to the US dollar on the local currency markets on Tuesday.

According to the currency dealers, the dollar was opened on a depressed note and could not maintain its position because of lacking buyers’ interest. At close of trading, the dollar was ended at Rs 99.40 and Rs 99.65 against Rs 99.50 and Rs 99.75 of Monday, respectively.

Likewise, the local currency improved its worth against the British pound. The pound was traded at Rs 166.75 and Rs 167.00 on buying and selling counters, respectively, as against Rs 167.10 and Rs 167.35 of Monday, 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 (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