THE RUPEE: minor changes

Little changes were seen on the money market on Tuesday as the rupee fluctuated slightly against the dollar in the process of trading, dealers said. The rupee managed to pick up three-paisa against the dollar for buying at Rs 98.50 and it also gained one-paisa for selling at Rs 98.55, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, in contrast, lost 10-paisa in terms of the dollar for buying and selling at Rs 99.70 and Rs 99.90 respectively. It also fell by 50-paisa in relation to the euro for buying and selling at Rs 134.75 and Rs 135.00 respectively, they said.

In the second Asian trade, the dollar fluttered higher in Asia, but was kept to a narrow range by caution ahead of this week’s US Federal Reserve meeting and concern about escalating violence in Iraq. By contrast, the Australian dollar was one of the session’s biggest movers, slipping after minutes of the central Reserve Bank of Australia’s June 3 meeting revealed that policymakers were unsure if their stimulus would be sufficient.

The dollar was trading against the Indian rupee at Rs 60.36, the greenback was at 3.2280 in terms of the Malaysian ringgit and the US currency was at 6.2322 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday: 77.63-77.63 (previous 77.63-77.63). Call Money Rates: 05.75-07.00 percent (previous 05.50-07.25 percent).

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

RUPEE IN LAHORE: The Pak rupee staged recovery and gained 10-paisa on buying side at Rs 106.50 and 20-paisa on selling side at Rs 107.00 in relation to the greenback on the local currency market on Thursday.

According to the currency dealers, the dollar resumed trading on a negative sign and remained under pressure due to lacking buyers’ interest. At close, the dollar was slide down from Tuesday closing of Rs 106.60 and Rs 107.20 on buying and selling counter to Rs 106.50 and Rs 107.00, respectively, the dealers said.

Similarly, the national currency showed strength and was appreciated against the British pound. The pound’s buying and selling rates were declined from previous closing of Rs 174.30 and Rs 175.50 to Rs 174.00 and Rs 175.00, respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Thursday. The dollar opened at Rs 106 (buying) and Rs 106.25 (selling) against last rate. It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.25 (selling). Pound Sterling opened at Rs 173 (buying) and Rs 173.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.

Recorder Report