The dollar managed to recover lost ground against the rupee on the money market on Tuesday, dealer said. The rupee drifted lower by 11 paisas versus the dollar for buying at Rs 104.66 and it also shed eight paisas for selling at Rs 104.68, dealer said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee also lost 20 paisas in relation to the dollar for buying and selling at Rs 104.80 and Rs 105.00 respectively; however it gained 30 paisas against the euro for buying and selling at Rs 117.30 and Rs 118.30, they added.
In the second Asian trade, the British pound remained fragile near a two-month low against the dollar on Tuesday and the yen hovered near six-week highs against the US currency on worries Britain may leave the European Union in a referendum less than 10 days away.
Some recent opinion polls have shown a lead for the "Leave" campaign, including a YouGov poll for The Times. While many market players are sceptical about the polling, recent poll results do seem to suggest that the "Leave" camp has gained momentum, making investors nervous. The British pound fell 0.7 percent to $1.4161, having set a two-month low of $1.4117 on Monday. The dollar was trading against the Indian rupee at Rs 67.15, the greenback was at 4.0870 in terms of the Malaysian ringgit and the US currency was available at 6.5883 versus the Chinese yuan.
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Open Bid Rs.104.80
Open Offer Rs.105.00
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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 and registered decline in relation to the major currencies including the US dollar and British pound on the local currency market on Tuesday.
According to the currency dealers, the dollar commenced trading on a positive note and registered gain following buyers' interest. At close of trading, the dollar finished higher at Rs 105.10 and Rs 105.30 on buying and selling sides against the Monday's closing of Rs 104.80 and Rs 105.00, respectively.
Likewise, the rupee stayed weak as it depreciated against the British pound. The pound's buying and selling rate improved from the overnight closing of Rs 147.40 and Rs 148.40 to Rs 149.50 and Rs 150.50, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 10 paisas against the dollar at local currency establishments of Islamabad and Rawalpindi here on Tuesday.
The dollar resumed trading at Rs 105.50 (buying) and Rs 106 (selling) against last rate of 105.60 (buying) and Rs 106.10 (selling). It did not observe further change in the last trading hours and closed at Rs 105.50 (buying) and Rs 106 (selling). Pound Sterling opened at Rs 151.60 (buying) and Rs 152 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 151.60 (buying) and Rs 152 (selling).
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