The rupee showed its muscles against dollar on the currency market on Tuesday due to no major payment, dealers said. The rupee improved versus dollar following the further smoothness between Pak-US relationship, they said and adding that the rupee gained 25 paisa in relation to the greenback for buying and selling at 93.75 and 93.80, they said.
INTER-BANK MARKET: Obama has been under intense pressure from Pakistan because Pak parliament which is considered a powerful institution has already demanded that Obama appologise for killing of 26 Pak forces men guiding their own sacred territory, analysts said. The parliament's message was passed on to the US which reluctantly has been quite till today, however, presidential election on November 7, 2012, which is coming in the way of asking for apology by Pakistan, they said.
Pakistan on its part has been refused contribution of American friends and investments have been taken away plus the International Monetary Fund (IMF) dues have to be paid back. Pakistan has been in tight corner because it cannot pay back money borrowed, experts said.
OPEN MARKET RATES: The rupee followed same pattern in terms of dollar, gaining sharply, 90 paisa for buying and selling at 94.50 and 95.00, they said. The rupee followed same trend versus euro, rising by 70 paisa for buying and selling at Rs 118.80 and Rs 119.80, they said.
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Buying Rs 93.75
Selling Rs.93.80
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Open Market Rates: Open Market Rates for Dollar on Tuesday.
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Open Buying Rs.94.50
Open Selling Rs.95.00
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RUPEE IN LAHORE: The Pak rupee maintained upward slide and gained 45-paisa on buying side and 40-paisa on selling side against the US dollar in the open currency market on Tuesday.
According to the currency dealers, because of lacking demand, the dollar remained under pressure and was further declined to Rs 94.85 and Rs 95.3 as its buying and selling rates against the overnight closing of Rs 95.4 and Rs 95.7 respectively.
The rupee also showed strength and was appreciated against the pound sterling. The pound's buying and selling rates were decreased from the day earlier closing of Rs 148 and Rs 149 to Rs 147.9 and Rs 148.5, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 96.20 (buying) and Rs 96.40 (selling) against last rate of Rs 96 (buying) and Rs 96.20 (selling). It did not observe further change in the evening session and closed at Rs 96.20 (buying) and Rs 96.40 (selling).
Pound Sterling opened at Rs 147 (buying) and Rs 147.50 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 147 (buying) and Rs 147.50 (selling).
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