THE RUPEE: little changes

The rupee managed to resist sharp losses against the dollar on the local money market on Tuesday in the process of trading, dealers said. The rupee depicted no change in relation to the dollar for buying and selling at Rs 101.95 and Rs 101.97 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee shed 10-paisa versus the dollar for buying and selling at Rs 103.30 and Rs 103.50 respectively; however, it gained 20-paisa versus the euro for buying and selling at Rs 113.80 and Rs 114.80 respectively, they said.

In the second Asian trade, the dollar edged higher, as focus shifted back to the prospect of the US Federal Reserve raising interest rates amid receding concerns that last week’s devaluation of China’s Yuan could spark a global currency war.

Against a basket of major currencies, the dollar rose 0.2 percent to 96.963, pulling away from a one-month low of 95.926 set last week when Beijing’s surprise move dented expectations of the Fed raising rates in September.

The dollar was trading against the Indian rupee at Rs 65.32, the US currency was available at 4.1170 in terms of the Malaysian ringgit and the greenback was at 6.411 in relation to the Chinese Yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 05.30-6.50 percent (Previous 05.25-06.50 percent).

Open Bid       Rs 103.30
Open Offer     Rs.103.50

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

Bid Rate       Rs.101.95
Offer Rate     Rs.101.97

RUPEE IN LAHORE: The national currency kept on falling for the second day on Tuesday and lost worth against the major currencies, including the American dollar and the British pound on the local currency market on Tuesday.

Currency dealers said the dollar’s demand continued for another day that pushed the rupee’s value further down while the rupee lost further 25-paisa versus the dollar for buying and selling at Rs 103.65 and Rs 104.00 against the overnight closing of Rs 103.40 and Rs 103.75, respectively. The rupee remained weak and declined against the pound sterling which was traded at Rs 161.10 and Rs 161.50 on buying and selling counter compared with the Monday closing of Rs 160.30 and Rs 161.00, respectively.

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

The dollar opened at Rs 102 (buying) and Rs 102.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 102 (buying) and Rs 102.20 (selling). Pound Sterling opened at Rs 157 (buying) and Rs 157.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 157 (buying) and Rs 157.50 (selling).

Recorder Report