The rupee moved in a narrow range against the dollar in the currency market on Tuesday, experts said. The rupee remained under pressure and depreciated against the US dollar and the British pound on the local currency market on Tuesday.
INTERBANK MARKET RATES: Because of an increase in the dollar demand, the rupee fell by 10-paisa on buying side and 15-paisa on selling side. At close, the dollar ended higher at Rs 96.40 and Rs 96.75 on buying and selling counters against the overnight closing of Rs 96.30 and Rs 96.60, respectively, moneychangers said.
Likewise, the rupee failed to maintain upward trend and declined against pound sterling. The pound's buying and selling rates increased from earlier closing of Rs 151.50 and Rs 152.50 to Rs 151.80 and Rs 152.60, respectively, they added.
OPEN MARKET RATES: The rupee fell slightly against the dollar for buying and selling at 96.40 and 96.60, they said. While, the rupee gained 50 paisa versus the euro for buying and selling at Rs 121.50 and Rs 122.50, they added.
In the second Asian trading, the euro dipped to a two-month low against the dollar after the euro zone and the International Monetary Fund failed to agree on a long-term plan to reduce Greece's debt, preventing disbursement of immediate aid to Athens.
The currency was also bruised by the broader risk averse mood as Chinese shares tumbled following state media reports that government housing market curbs will remain in place, sapping optimism that the world's second-largest economy was regaining traction. The dollar was trading against the Indian rupee at Rs 54.88, the greenback was at 3.0625 in terms of the Malaysian ringgit and the US currency was at 6.2262 in relation to the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday: 81.71-81.75 (previous 81.70-81.75). Call Money Rates: 09.00-09.00 percent (previous 08.00-09.50 percent).
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Open Buying Rs 96.40
Open Selling Rs.96.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.95.90
Offer Rate Rs.95.96
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RUPEE IN LAHORE: The Pak rupee gained five paisa against the dollar for buying at Rs 96.30 while it remained unchanged for selling at Rs 96.60 on the local currency market on Monday.
According to the currency dealers, the dollar was opened at its last week closing of Rs 96.35 and Rs 96.60 as its buying and selling rates, respectively. The dollar witnessed no visible change in its demand and supply situation that helped rupee stability. At the close of trading, the dollar was ended at Rs 96.30 and Rs 96.60 on buying and selling counters, respectively.
Similarly, the national currency showed strength on buying side while it stayed unchanged on selling side in relation to the pound sterling. The pound was purchased and sold at Rs 151.50 and Rs 152.50 compared with last Saturday closing of Rs 151.90 and Rs 152.50, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee remained unchanged against the dollar at the open currency markets of Islamabad and Rawalpindi on Tuesday. The dollar opened at Rs 95 (buying) and Rs 95.60 (selling) against the same last rate. It did not observe further change in the evening session and closed at Rs 95 (buying) and Rs 95.60 (selling). Pound Sterling opened at Rs 151.90 (buying) and Rs 153 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 151.90 (buying) and Rs 153 (selling).
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