THE RUPEE: all-round slide

The rupee slid sharply against the dollar and euro on the local currency market on Tuesday in the process of trading, dealers said. The rupee fell sharply versus the dollar, losing 24-paisa for buying and selling at Rs 103.30 and Rs 103.35 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee continued its decline losing more 10-paisa against the dollar for buying and selling at Rs 103.10 and Rs 103.30 respectively and also depreciated by 50-paisa in relation to the euro for buying and selling at Rs 131.00 and Rs 13.25 respectively, they said.

In the second Asian trade, the US dollar nursed modest losses, having slipped overnight after soft economic data tempered risk appetite and pushed safe-haven US debt yields lower.

Expectations of more dovish comments from the Federal Reserve, due to kick of its closely-watched two-day policy review later in the session, also weighed on the greenback. The greenback eased to 107.805 yen, retreating from Monday’s near three-week peak of 108.38.

The dollar was trading against the Indian rupee at Rs 61.38, the greenback was at 3.2760 versus the Malaysian ringgit and the US currency was available at 6.1135 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday: 77.40-77.44 (previous 77.40-77.42).Call Money Rates: 07.00-08.75 percent (Previous 06.75-08.75 percent).

Open Bid       Rs 103.10
Open Offer     Rs.103.30

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

Bid Rate       Rs.103.30
Offer Rate     Rs.103.35

RUPEE IN LAHORE: The national currency remained under pressure and was depreciated against the major currencies including US dollar and British pound on the local currency market on Tuesday.

According to the currency dealers, the dollar was opened on a healthy note and kept on rising following fresh demand. At close of trading, the dollar was ended higher at Rs 103.20 and Rs 103.45 as its buying and selling rate against Rs 103.00 and Rs 103.25 of Monday, respectively, the dealers said.

The rupee also stayed weak and was declined against the pound sterling. The pound’s buying and selling rates were improved from overnight closing of Rs 165.50 and Rs 166.00 to Rs 166.10 and Rs 166.35, 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 103 (buying) and Rs 103.10 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 103 (buying) and Rs 103.10 (selling).

Pound Sterling opened at Rs 164 (buying) and Rs 164.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 164 (buying) and Rs 164.10 (selling).

Recorder Report