The rupee's value stabilised versus the dollar on the money market on Tuesday in the process of trading, dealers said. The rupee picked up three paisas against the dollar for buying and selling at Rs 104.66 and Rs 104.68 respectively, dealer said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee did not move any side versus the dollar for buying and selling at Rs 104.70 and Rs 104.90 respectively, they said. The rupee stayed put against the euro for buying and selling at Rs 119.00 and Rs 120.00 respectively, they added. In the second Asian trade, the yen nursed broad losses, beaten back from recent peaks following warnings by Japan that it was prepared to step in and weaken the currency.
The dollar rose roughly 0.4 percent to a 12-day high of 108.795 yen, after surging more than one percent on Monday. The US currency had tumbled to an 18-month low of 105.55 yen last week after the Bank of Japan stood pat on monetary policy.
In the wake of the yen's surge, Finance Minister Taro Aso on Monday said Tokyo is ready to intervene to weaken the currency if moves are volatile enough.
The dollar was trading against the Indian rupee at Rs 66.72, the greenback was at 4.0600 in terms of the Malaysian ringgit and the US currency was at 6.5185 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 78.40-78.40 (previous 78.40-78.40).
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Open Bid Rs.104.70
Open Offer Rs.104.90
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.104.66
Offer Rate Rs.104.68
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RUPEE IN LAHORE: The rupee failed to maintain rising trend as it lost 10-paisa on buying and 5-paisa on selling side in relation to the US dollar on the local currency market on Tuesday.
According to the currency dealers, the dollar resumed trading at its overnight closing of Rs 105.00 and Rs 105.25 as its buying and selling rates, respectively. Because of insufficient supply, the dollar's buying rate moved up and ended higher at Rs 105.10 whereas its selling rate increased to Rs 105.30. However, the rupee remained weak and declined on buying side while it stayed unchanged on selling side against the pound sterling that was traded at Rs 150.80 and Rs 151.50 on buying and selling counter as compared with the Monday's closing of Rs 150.60 and Rs 151.50, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar further gained strength against the Pak rupee at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (selling). Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).
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