THE RUPEE: Dollar up

The dollar was higher in the interbank market on Tuesday in process of trading, dealers said. The rupee shed two paisa in relation to dollar for buying at 90.82 and lost four paisa for selling at 90.86, they said.
INTERBANK MARKET: In the second Asian trade, dollar held near a one-month low against a basket of currencies after Federal Reserve Chairman Ben Bernanke signalled that a supportive monetary policy would remain and kept alive hopes of more monetary stimulus for the US economy. The dollar index was at 78.937, stuck near a low of 78.870 hit on Monday when Bernanke said the central bank's policy of very low interest rates was needed to reduce unemployment and made it clear he was in no rush to reverse course.
The dollar was trading versus the Indian rupee at Rs 50.93, in terms of the Malaysian ringgit, the US currency was at 3.0630 and the greenback was at 6.3116 against the Chinese yuan. Interbank buy/sell rates for taka against dollar on Tuesday: 81.75-81.82 (previous 81.77-81.80). Call Money Rates: 10.50-12.00 percent (previous 07.00-12.50 percent).

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Open Buying     Rs 90.82

Open Selling    Rs 90.86

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RUPEE IN LAHORE: The Pak rupee recovered some of its day's earlier loss and was improved by 10-paisa on buying side and 15-paisa on selling side in relation to the greenback in the local currency market on Tuesday. According to the currency dealers, dollar opened on a negative sign and remained under pressure. The dollar resumed trading at its overnight closing of Rs 91.10 and Rs 91.40 as its buying and selling rates but could not sustain in the absence of buying support. At the end of trading for the day, dollar closed lower at Rs 91.00 and Rs 91.25, respectively.
The rupee also showed stability on buying side while it declined on the selling side against the pound sterling. The pound traded at Rs 143.50 and Rs 144.50 as compared to Monday closing of Rs 143.50 and Rs 144.00, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 91 (buying) and Rs Rs 91.20 (selling) against same previous rate. It did not observe any further change in the second session and closed at Rs 91 (buying) and Rs 91.20 (selling). Pound Sterling opened at Rs 142 (buying) and Rs 142.50 (selling) against same previous rate. It did not observe further change in the evening session and closed at Rs 142 (buying) and Rs 142.50 (selling).
Copyright Business Recorder, 2012