THE RUPEE: steadier trend

Firmness prevailed on the money market on Tuesday as the rupee extended gains against the dollar and euro, dealers said. The rupee maintained overnight levels versus the dollar for buying and selling at Rs 102.64 and Rs 102.66 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee 20-paisa versus the dollar for buying at Rs 102.10 and the national currency also rose by 15-paisa for selling at Rs 102.30, they said. The rupee gained 25-paisa in terms of the euro for buying and selling at Rs 128.50 and Rs 128.75, they said.

In the second Asian trade, the dollar took a breather from its recent rally but was still not far from four-year peak against a basket of major currencies, and could be on track to post its biggest monthly gain in over a year.

The dollar index last stood at 85.544, not far from an overnight peak of 85.798 – a high not seen since July 2010. Its monthly gain of more than 3 percent could put it on track for the largest since February 2013.

The dollar was trading against the Indian rupee at Rs 61.61, the greenback was available at 3.2780 versus the Malaysian ringgit and the US currency was at 6.1395 in relation to the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday: 77.40-77.40 (previous 77.40-77.40). Call Money Rates: 05.75-09.00 percent (Previous 05.75-08.50 percent) (revised).

Open Bid       Rs 102.10
Open Offer     Rs.102.30

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

Bid Rate       Rs.102.64
Offer Rate     Rs.102.66

RUPEE IN LAHORE: The Pak rupee maintained upward move for another day and further gained 25-paisa in relation to the greenback on the local currency market on Tuesday.

According to the currency dealers, the dollar was opened on a negative sign and failed to sustain in the absence of buyers’ interest. At close of trading, the dollar fell down to Rs 102.25 and Rs 102.50 as its buying and selling rate against Rs 102.50 and Rs 102.75 of Monday, respectively, the dealers said.

On the contrary, the rupee failed to continue rising trend and was declined against the British pound. The pound witnessed fresh buying that pushed its rate up to Rs 167.75 and Rs 168.00 on buying and selling counter compared with previous closing of Rs 165.50 and Rs 165.75, 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 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