The rupee commenced the new fiscal year 2012-13 on a firm note against dollar in the interbank market on Tuesday, it, however fell slightly on the open market, dealers said. The national currency showed no change against dollar for buying and selling at 94.60 and 94.65, they said.
INTERBANK MARKET: Commenting on the next direction of the money market analysts said that news are coming that the US may give 400 million US dollar in near future. If this move materialises, it is most likely that the rupee may gain strength versus dollar, Malik Bostan said.
OPEN MARKET RATES: The rupee shed five paisa in terms of dollar, for buying and selling at 95.70 and 95.90, they said. The rupee also dropped by 20 paisa against euro for buying and selling at 119.70 and Rs 120.70, they added.
In the second day of Asian trade euro and US dollar climbed off early lows but remained under pressure after dismal factory data from Europe to the United States raised expectations for more action from central banks in both regions.
Investors' hopes for the European Union's plan to support debt-laden countries turned to scepticism, which was further fanned by Monday's report showing US manufacturing activity contracted for the first time in nearly three years.
In the euro zone the jobless rate rose to a record high in May, and a measure of factory activity held steady at its lowest level since June 2009, lending credence to those who believe the European Central Bank will cut interest rates at its policy meeting on Thursday.
Interbank buy/sell rates for taka against dollar on Tuesday: 81.80-81.82 (previous 81.81-81.83) Call Money Rates: 9.50-15.00 percent (previous 9.50-15.00 percent) The partially convertible Indian rupee closed at 54.36/37 per dollar, after hitting 54.35, its strongest level since May 17 and two percent above its close of 55.43/44 on Monday. The yuan closed at 6.3523 per dollar on Tuesday, 35 pips weaker than Monday's close, after the central bank set its midpoint 32 pips weaker at 6.3178, adds Reuters.
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Open Buying Rs 95.70
Open Selling Rs 95.90
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Open Market Rates: InterBank Market for Dollar on Tuesday.
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Buying Rs 94.60
Selling Rs 94.65
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RUPEE IN LAHORE: The Pak rupee-dollar parity remained unchanged amid low trading activity in the local current market on Tuesday, dealers said. The rupee held the overnight levels against the dollar at Rs 95.50 and Rs 96.00 for buying and selling, respectively.
However, the rupee was under pressure against the pound sterling. The pound's buying and selling rates were improved to Rs 148.70 and Rs 149.30 as compared to Rs 148.30 and Rs 149.00 of Monday, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee on the open currency markets of Islamabad and Rawalpindi here on Tuesday. The dollar opened at Rs 95.2 (buying) and Rs 95.4 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 95.2 (buying) and Rs 95.4 (selling). Pound Sterling opened at Rs 147 (buying) and Rs 147.5 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 147 (buying) and Rs 147.5 (selling).
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