The dollar managed to gain strength against the local currency on the money market on Tuesday, dealer said. The rupee shed 10 in relation to the dollar for buying and selling at Rs 104.90 and Rs 105.10, they said. The rupee, however, rose by five paisas versus the euro for buying and selling at Rs 118.55 and Rs 119.55, they added.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee moved slightly against the dollar for buying and selling at Rs 104.74 and Rs 104.75, dealer said. In the second Asian trade, the dollar edged down slightly in Asian trading on Tuesday, while the Australian dollar soared after central bank minutes reduced expectations of an interest rate cut.
The Aussie was already bolstered by a rebound in crude oil futures. US crude hit a six-month high, as the market focused on supply disruptions that prompted long-time bear Goldman Sachs to issue a more bullish assessment. Minutes of the Reserve Bank of Australia's (RBA) May policy meeting, at which policymakers reduced the cash rate by a quarter point to a record low 1.75 percent, were less dovish than some had anticipated.
The Aussie was up 0.8 percent at $0.7349 after rising as high as $0.7368, pulling decisively away from a two-and-a-half month low of $0.7236 plumbed in the previous session. The dollar was trading against the Indian rupee at Rs 66.70, the greenback was at 4.0110 in terms of the Malaysian ringgit and the US currency was at 6.5201 versus the Chinese yuan. Interbank 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.104.90
Open Offer Rs.105.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.104.74
Offer Rate Rs.104.75
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RUPEE IN LAHORE: The Pak rupee depreciated against the major currencies on the local currency market on Tuesday.
According to the currency dealers, the dollar commenced trading on a positive note and registered gain during the day's trading session. At close, the dollar was ended higher at Rs 105.25 and Rs 105.50 as its buying and selling rates, respectively, as against the overnight closing of Rs 105.20 and Rs 105.40, the dealers said.
Likewise, the rupee lost its worth against the British pound. The pound's buying and selling rates improved from the Monday's closing of Rs 150.00 and Rs 151.00 to Rs 151.50 and Rs 152.30, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the local currency at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 105 (buying) and Rs 105.50 (selling) against same last rate. It did not observe further change in the second session and closed at the same rate.
Pound Sterling followed the same pattern, showing no change at Rs 158 (buying) and Rs 158.50 (selling).
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