THE RUPEE: steadier trend

Steadier trend was seen on the currency market on Tuesday as the rupee maintained its overnight levels against the dollar due to comfortable supply position, market-men said. The rupee managed to hold its overnight level at 94.55 while it gained one-paisa for selling at 94.57, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee maintained its overnight levels versus the dollar for buying and selling at 94.70 and 94.90, they said. The rupee picked up 10-paisa in relation to the euro for buying and selling at Rs 121.70 and Rs 122.70, they added.
In the second Asian trade, the euro fell to a one-week low against the dollar after a short-lived respite in early Asia trade as worries about Spain's debt persisted and weak German business data fanned fears of slowing growth.
The dollar was trading against the Indian rupee at Rs 53.52, the greenback was at 3.0715 in terms of the Malaysian ringgit and the US currency was available at 6.3039 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday: 81.59-81.69 (previous 81.59-81.63). Call Money Rates: 07.50-09.00 percent (previous 03.00-10.50 percent).

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Open Buying     Rs 94.70

Open Selling    Rs.94.90

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.

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Bid Rate        Rs.94.55

Offer Rate      Rs.94.57

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RUPEE IN LAHORE: The Pak rupee showed strength and gained 10-paisa against the US dollar on the local currency market on Tuesday.
According to the currency dealers, because of lacking buying interest, the dollar could not sustain and remained under pressure. At the end of trading, the dollar was closed lower at Rs 94.60 and Rs 94.80 as its buying and selling rates, against the Monday closing of Rs 94.70 and Rs 94.90, respectively.
The rupee remained unchanged on buying side while it was appreciated on selling side in relation to the pound sterling. The pound was traded at Rs 152.50 and Rs 153.30 on buying and selling counters as compared to overnight closing of Rs 152.50 and Rs 153.50, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Tuesday. The dollar opened at Rs 94.2 (buying) and Rs 94.3 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 94.2 (buying) and Rs 94.3 (selling). Pound Sterling opened at Rs 146 (buying) and Rs 146.5 (selling) against same previous rate. It did not observe further change in the evening session and closed at Rs 146 (buying) and Rs 146.5 (selling).
Copyright Business Recorder, 2012