The rupee-dollar parity rates moved both ways against the dollar on the currency market on Tuesday, dealers said. The rupee lost its value versus the dollar on the interbank market, it however rebounded on the open market after crossing 100 mark on Monday to the International Monetary Fund's (IMF) payments, they added.
The dollar was strong and gaining ground in relation to the rupee and it was likely that the rupee might not continue weakness due to payment requirements, currency experts said.
INTERBANK MARKET RATES: The rupee expended its slide, losing eight paisa against the dollar for buying at 98.08 and it also fell by 10 paisa for selling at 98.12, they said.
OPEN MARKET RATES: The rupee, however, recovered some grounds, picking up 25 paisa against the dollar for buying and selling at 99.50 and 99.70, they said. The rupee also gained 20 paisa in terms of the euro for buying and selling at Rs 132.80 and Rs 133.80, they said.
In the second Asian trade, the yen clawed back some its losses in Asian trading on Tuesday from its plunge in the previous session after a US Treasury official implied tolerance of a weaker Japanese currency as a side-effect of efforts to defeat deflation. Currency markets largely shrugged off news that North Korea conducted a third nuclear test.
The yen spent most of the Asian session wallowing in a narrow range around its lows before some investors took profits on dollar and euro gains late in the session. The partially convertible rupee closed at 53.85/86 per dollar, after hitting 54.07, its weakest since January 18 and largely unchanged from its close of 53.8450/8550 on Monday. Interbank buy/sell rates for the taka against the dollar on Monday: 79.00-79.00 (79.00-79.02). Call Money Rates: 10.00-10.00 percent (previous 06.00-10.00 percent).
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Open Bid Rs 99.50
Open Offer Rs 99.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs 98.08
Offer Rate Rs.98.12
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RUPEE IN LAHORE: The Pak rupee recovered some of its day earlier loss and was improved by 10-paisa on buying side at Rs 99.60, while it remained unchanged on selling side at Rs 100.00 in relation to the greenback on the local currency market on Tuesday.
According to the currency dealers, the dollar commenced trading at its day earlier closing of Rs 99.70 and Rs 100.00 as its buying and selling rates, respectively. However, at the end of trading, the dollar's buying rate was slide down to Rs 99.60 while its selling rate stayed unchanged at Rs 100.00.
The national currency also staged recovery and was appreciated against the British pound. The pound, amid selling pressure, was declined to Rs 155.50 and Rs 156.50 on buying and selling counters compared with Rs 156.20 and Rs 157.00 of Monday, respectively, the dealers said.
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 99.80 for buying and Rs 99.90 for selling against last rate of Rs 99 for buying and Rs 99.10 for selling against the same last rate. The buying and selling rates touched Rs 100 during day's trading and finally closed at Rs 99.80 for buying and Rs 99.90 for selling respectively.
Pound Sterling opened at Rs 154 for buying and Rs 155 for selling against same overnight value. It did not observe further change in the last trading hours and closed at Rs 154 for buying and Rs 155 for selling respectively.
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