THE RUPEE: bulls dominate

Bulls dominated the currency market on Tuesday as the rupee managed to recover most of the losses versus the dollar and euro, dealers said. The rupee rose by 13-paisa in relation to the dollar for buying and selling at Rs 98.62 and the national currency was up by 15-paisa for selling at Rs 98.65, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee followed the suit on the open market, rising by 20-paisa against the dollar at Rs 99.60 and picking up 25-paisa for selling at Rs 99.70, they said. The rupee also appreciated by 15-paisa against the euro for buying and selling at Rs 135.25 and Rs 135.50, they said.

In the second Asian trade, the Australian dollar jumped to test its year-to-date peak after a Chinese manufacturing survey showed surprisingly big improvements. The Canadian dollar also hit a five-month high, building on to its 0.6 percent gain against the greenback on Friday as surprisingly high Canadian inflation data and robust retail sales figures challenged the central bank’s accommodative policy stance.

The dollar was trading against the Indian rupee at Rs 60.18, the greenback was at 3.2170 in terms of the Malaysian ringgit and the US currency was at 6.2250 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday: 77.63-77.6325 (previous 77.63-77.63). Call Money Rates: 05.50-07.00 percent (previous 05.50-07.00 percent).

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

RUPEE IN LAHORE: The Pak rupee recovered in relation to the greenback on the local currency market on Tuesday. According to the currency dealers, the dollar was opened on a depressed note and remained under pressure due to lack of buyer’s interest. At close, the dollar was ended at Rs 99.75 and Rs 100.00 as its buying and selling rate against Rs 99.85 and Rs 100.10 of Monday, respectively, the dealers said.

Similarly, the rupee showed strength and was appreciated against the pound sterling. The pound’s buying and selling rates were declined from overnight closing of Rs 169.55 and Rs 170.00 to Rs 169.30 and Rs 169.55, respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at 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