The dollar recovered modestly against the rupee on the currency market on Tuesday in process of trading, dealers said. In fact, the dollar demand is rising with the passage of time as a result of massive forward buying by importers, they added.
INTERBANK MARKET RATES: The rupee struggled to come out of weak spells, but it could not maintain its stability, they said and added the national currency shed eight paisa versus the dollar for buying at Rs 96.60 and it also lost seven paisa for selling at 96.63, they said.
OPEN MARKET RATES: In sympathy with interbank trend, the rupee slipped and shed five paisa versus the dollar for buying and selling at 97.25 and 97.45, they said. The national currency also fell in relation to the euro, losing more 20 paisa for buying and selling at Rs 125.60 and Rs 126.60, they said.
In the second Asian trade, the dollar and euro slipped against a resurgent yen on Tuesday after US manufacturing activity hit a three-year low in November, while the Australian dollar held its gains after the Reserve Bank of Australia cut its cash rate in line with expectations. Data released on Monday by the Institute for Supply Management (ISM) showed US manufacturing activity surprisingly contracted in November, dropping to its lowest level in more than three years.
The dollar was trading against the Indian rupee at Rs 54.94 and the greenback was travelling versus the Malaysian ringgit at 3.0410. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 81.2000-81.3150 (previous 81.28-81.35). Call Money Rates: 07.75-08.00 percent (previous 06.00-08.50 percent).
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Open Buying Rs 97.25
Open Selling Rs 97.45
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.96.60
Offer Rate Rs.96.63
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RUPEE IN LAHORE: The Pak rupee maintained upward trend for the second day in terms of the greenback on the local currency market on Tuesday, dealers said.
According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 97.30 and Rs 97.60 as its buying and selling rates, respectively. In the absence of buying support, the dollar was declined to Rs 97.20 and Rs 97.50 on buying and selling counters, respectively. On the contrary, the rupee continued downward move and was declined against the British pound. The pound's buying and selling rates were improved from the Monday closing of Rs 154.00 and Rs 154.60 to Rs 154.50 and Rs 155.00, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Tuesday. The dollar opened at Rs 96.9 (buying) and Rs 97 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 96.9 (buying) and Rs 97 (selling). Pound Sterling opened at Rs 153 (buying) and Rs 153.5 (selling) against the same last rate. It did not observe further change in the second session and closed at Rs 153 (buying) and Rs 153.5 (selling).
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