THE RUPEE: easier trend

Modest decline was seen in the value of the rupee against the dollar on the money market on Tuesday, dealers said. The rupee dropped by four-paisa versus the dollar for buying and selling at Rs 101.92 and Rs 101.94 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also lost 20-paisa against the dollar for buying and selling at Rs 102.00 and Rs 102.20 respectively, while it recovered 35-paisa in relation to the euro, for buying and selling at Rs 113.75 and Rs 114.00 respectively, they said.

In the second Asian trade, the dollar pulled back a little from an 11-year peak against a basket of major currencies on Tuesday, with the Australian dollar stealing the spotlight as it surged after the Reserve Bank of Australia stood pat on interest rates. The US currency also was pressured against the yen after Etsuro Honda, an economic adviser to Japanese Prime Minister Shinzo Abe, told the Wall Street Journal in an interview that dollar/yen may be at the “upper limit of comfort zone.”

The dollar was trading against the Indian rupee at Rs 61.91, the greenback was at 3.6190 in terms of the Malaysian ringgit and the US currency was at 6.2740 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 07.00-8.00 percent (Previous 06.75-08.00 percent).

Open Bid       Rs 102.00
Open Offer     Rs 102.20

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

Bid Rate       Rs 101.92
Offer Rate     Rs 101.94

RUPEE IN LAHORE: The rupee has remained weak and registered a marginal decline of five-paisa compared to the greenback on the local currency market on Tuesday.

Currency dealers said the dollar resumed trading at its day earlier closing of Rs 101.85 and Rs 102.10 as its buying and selling rate, respectively. In the absence of buyers’ interest, the dollar failed to keep its steadiness and declined to Rs 101.90 and Rs 102.15 on buying and selling side, respectively.

But the rupee showed strength against the pound sterling which was purchased and sold at Rs 156.25 and Rs 156.50 compared with Monday closing of Rs 156.50 and Rs 156.85, respectively.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Tuesday.

The dollar opened at Rs 101.75 (buying) and Rs 101.85 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 101.75 (buying) and Rs 101.85 (selling).

Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 155 (buying) and Rs 155.50 (selling).

Recorder Report