Divergent trends were seen on the currency market on Tuesday as the rupee played both sides versus the dollar in the process of trading, dealers said. The rupee recovered two-paisa in terms of the dollar for buying and selling at Rs 101.70 and Rs 101.72 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, shed 10-paisa in relation to the dollar for buying and selling at Rs 102.30 and Rs 102.50 respectively. It also dropped by 75-paisa in terms of the euro for buying and selling at Rs 108.25 and Rs 108.50 respectively, they said.
In the second Asian trade, the euro held firm after soft US data and nerves ahead of this week’s Federal Reserve policy meeting braked the dollar’s rally and helped the common currency pull out from 12-year lows. The euro was steady at $1.0568, having rebounded overnight from $1.0457, its lowest since 2003.
The euro has been under pressure since the European Central Bank activated its 1 trillion euro bond-buying quantitative easing scheme last week and drove euro zone bond yields to record lows. The dollar was trading against the Indian rupee at Rs 62.68, the greenback was at Rs 3.6950 versus the Malaysian ringgit and the US currency was available at 6.2541 in terms of the Chinese yuan.
Open Bid Rs 102.30
Open Offer Rs.102.50
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
Bid Rate Rs.101.70
Offer Rate Rs.101.72
RUPEE IN LAHORE: The rupee registered a recovery and gained 10-paisa in relation to the greenback on the local currency market on Tuesday.
Currency dealers said the dollar resumed trading on negative sign and remained under selling pressure. At close, the dollar was ended lower at Rs 102.40 and Rs 102.65 as its buying and selling rate against Rs 102.50 and Rs 102.75 of Monday, respectively.
However, the rupee remained weak and depreciated its worth against the pound sterling. The pound’s buying and selling rates were improved from the overnight closing of Rs 150.60 and Rs 151.40 to Rs 151.25 and Rs 151.50, respectively, the dealers said.
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).