The rupee moved in a narrow band against the dollar on the money market on Tuesday in the process of trading, dealers said. The rupee fluctuated but in tight range levels in relation to the dollar for buying and selling at Rs 105.39 and Rs 105.40 respectively, they said.
INTER-BANK MARKET RATES: In the second Asian trade, the dollar skidded to a six-week low versus the yen, its outlook clouded by US political turmoil and doubts over whether there will be another Federal Reserve rate hike this year.
The dollar slipped to a low of 110.005 yen at one point, its lowest level since June 15. The greenback was last trading at 110.20 yen, down about 0.1 percent on the day.
While the dollar could bounce back to levels around 111.50 yen if forthcoming US economic data is strong, a rise to levels beyond 112 yen seems unlikely in the near term, said Teppei Ino, an analyst for Bank of Tokyo-Mitsubishi UFJ in Singapore.
The dollar was trading against the Indian rupee at Rs 64.135, the greenback was at 4.276 in terms of the Malaysian ringgit and the US currency was at 6.719 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 80.66-80.68 (previous 80.65-80.66).
OPEN MARKET RATES: The rupee did not move any side in terms of the dollar for buying and selling at Rs 107.30 and Rs 107.50 respectively, they said.
The rupee drifted lower versus the euro, losing 80 paisas in relation to the euro for buying and selling at Rs 125.80 and Rs 126.80 respectively.
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Open Bid Rs.107.30
Open Offer Rs.107.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.105.39
Offer Rate Rs.105.40
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RUPEE IN LAHORE: The Pak rupee remained strong for the second consecutive day against the greenback in the local currency market on Tuesday.
The greenback commenced trading on a negative note for another day amidst lack of buyers' interest in the market. Consequently, it ended at 107.00 and Rs 107.50 on buying and selling side, respectively, as compared to the overnight closing rates of Rs 107.20 and Rs 107.75 respectively, local currency dealers said.
On the contrary, the local currency failed to sustain as it depreciated versus the pound sterling. The pound's buying and selling rates went up from Monday's closing rates of Rs 139.40 and Rs 140.60 to Rs 140.60 and Rs 141.60 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of dollar against the rupee was almost unchanged at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 107.10 (buying) and Rs 107.20 (selling) against last rate of Rs 107 (buying) and Rs 107.10 (selling). It closed at Rs 107.10 (buying) and Rs 107.20 (selling).
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