The rupee somehow managed to recover modestly against the dollar on the local currency market on Tuesday, dealers said.
INTER-BANK MARKET RATES: The rupee inched up with a rise of six-paisa in its value versus the dollar for buying and selling at Rs 101.99 and Rs 101.02 respectively, they said.
OPEN MARKET RATES: The rupee maintained its overnight levels against the dollar for buying and selling at Rs 102.40 and Rs 102.60 respectively, but it lost Rs 1.55 in relation to the euro for buying and selling at Rs 111.8 and Rs 112.05 respectively, they said.
In the second Asian trade, the dollar dipped against the euro and yen on Tuesday, succumbing to downward pressure from lower US debt yields as investors remained jittery after last week’s surprisingly dovish Federal Reserve policy statement.
The greenback got little help overnight from comments by Federal Reserve officials, some of whom appeared to fall in line with the March 18 policy statement that suggested a less aggressive timetable for hiking interest rates.
The dollar was trading against the Indian rupee at Rs 62.20, the greenback was at 3.6700 in terms of the Malaysian ringgit and the US currency was at 6.2122 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: 07.50-8.00 percent (Previous 07.50-08.00 percent).
Open Bid Rs 102.40
Open Offer Rs 102.60
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
Bid Rate Rs 101.99
Offer Rate Rs 101.02
RUPEE IN LAHORE: The rupee on Tuesday remained strong and gained five-paisa on buying side (Rs 102.60) and 10-paisa on selling side (Rs 102.85) in relation to the greenback on the local currency market.
Currency dealers said the dollar resumed trading on a negative sign and remained under pressure. At close the dollar ended lower at Rs 102.60 and Rs 102.85 as its buying and selling rate against Rs 102.65 and Rs 102.95 of last Saturday, respectively. The rupee stayed unchanged on buying side while it declined on selling side against the pound sterling, which was traded at Rs 152.00 and Rs 152.50 on buying and selling counter compared with last week’s closing of Rs 152.00 and Rs 152.80, 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).