The rupee tended slightly lower against the dollar on the money market on Tuesday in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee shed three-paisa versus the dollar for buying and selling at Rs 101.93 and Rs 101.94 respectively, they said.
OPEN MARKET RATES: The rupee was down by 10-paisa in relation to the dollar for buying and selling at Rs 102.30 and Rs 102.50 respectively, but it gained Rs 1.10 in terms of the euro for buying and selling at Rs 109.50 and Rs 109.75 respectively, they said.
In the second Asian
The dollar rose against a basket of currencies on Tuesday and was on track for its best quarter since 2008, bolstered by the diverging outlook for monetary policy in the United States compared to other major economies.
The greenback remains below peaks hit earlier in March, having given back some ground over the past couple of weeks after the US Federal Reserve signalled a more cautious outlook for U.S. economic growth.
The dollar was available against the Indian rupee at Rs 62.61, the greenback was at 3.7115 in terms of the Malaysian ringgit and the US currency was at 6.2018 in relation to 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 101.93
Offer Rate Rs 101.94
RUPEE IN LAHORE: The Pak rupee recovered some of its earlier loss and gained 10 paisas against the greenback on the local currency market on Tuesday.
Currency dealers said the dollar opened on a negative sign and remained under selling pressure. At close of trading, the dollar ended lower at Rs 102.10 and Rs 102.35 on buying and selling side against Rs 102.20 and Rs 102.45 of Monday, respectively. The rupee failed to maintain the rising trend and depreciated its worth against the pound sterling which was traded at Rs 151.15 and Rs 151.40 on buying and selling counter compared with previous closing of Rs 150.70 and Rs 151.30, 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).