THE RUPEE: rates improve

The rupee managed to recover modestly against the dollar and euro on the currency market on Tuesday, dealers said. The rupee moved up slightly versus the dollar, gaining two-paisa for buying and selling at Rs 102.90 and Rs 102.92 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also picked up 10-paisa in relation to the dollar for buying and selling at Rs 102.70 and Rs 102.90 respectively. It also appreciated by 25-paisa in terms of the euro for buying and selling at Rs 130.50 and Rs 130.75, they said.

In the second Asian trade, the dollar slipped as weak Chinese growth data rekindled concerns about the global economy.

In Tokyo afternoon trading, the greenback slipped to 106.59 yen against 106.92 yen in New York. The euro rose to $1.2810 from $1.2800, while it weakened to 136.54 yen from 136.86 yen in the US.

Traders moved into the yen seen as a safe-haven currency in times of turmoil or uncertainty as official data showed China’s gross domestic product expanded 7.3 percent year-on-year in July-September, slumping to a five-year low despite official efforts to shore up growth in the world’s second-largest economy.

Open Bid       Rs.102.70
Open Offer     Rs.102.90

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

Bid Rate       Rs.102.90
Offer Rate     Rs.102.92

RUPEE IN LAHORE: The Pak rupee-dollar parity stayed unchanged amid sluggish trading trend on the local currency market on Tuesday.

According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 102.85 and Rs 103.10 as its buying and selling rate, respectively. In the absence of any change in buying and selling situation, the dollar’s opening rates continued to prevail till close of trading, the dealers said.

On the contrary, the rupee maintained downward slide for another day and was depreciated against the British pound. The pound was traded at Rs 166.25 and Rs 166.50 on buying and selling counter compared with day earlier closing of Rs 164.80 and Rs 165.05, respectively, they added.

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 101 (buying) and Rs 101.10 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101 (buying) and Rs 101.10 (selling) against.

Pound Sterling opened at Rs 168 (buying) and Rs 168.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 168 (buying) and Rs 168.10 (selling).

Recorder Report