THE RUPEE: all-round decline

All-round decline was seen on the currency market on Tuesday as the rupee fell against the dollar and euro, dealers said. The rupee shed 10 paisa against the dollar, losing 10 paisa for buying at Rs 102.25 and it lost 12 paisa for selling at Rs 102.30, dealers said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee followed the same pattern in terms of the dollar, shedding 10 paisa for buying and selling at Rs 102.30 and Rs 102.50, they said. The rupee also dropped by 25 paisa against the euro for buying and selling at Rs 134.75 and Rs 135.00, they said.
In the second Asian trade, the Australian dollar pushed higher after Australia's central bank cut interest rates as expected and refrained from offering a clear hint that it may ease monetary policy further.
Moves in other major currencies were relatively subdued, with the euro easing 0.1 percent to $1.3247, while the US dollar edged up 0.3 percent versus the yen to 98.53 yen. The dollar was trading against the Indian rupee at Rs 61.11, the greenback was at 3.2280 in terms of the Malaysian ringgit and the US currency was available at 6.1234 in relation to Chinese yuan.

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Open Bid       Rs 102.30

Open Offer     Rs 102.50

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

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Bid Rate       Rs 102.25

Offer Rate     Rs 102.30

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RUPEE IN LAHORE: The Pak rupee-dollar parity remained unchanged amid low trading activity on the local currency market on Tuesday.
According to the currency dealers, the dollar resumed trading at the overnight level at Rs 102.30 and Rs 103.00 as its buying and selling rates, respectively.
On the contrary, the rupee remained under pressure and was depreciated against the British pound. The pound was purchased and sold at Rs 155.50 and Rs 156.50 compared with last day closing of Rs 155.00 and Rs 155.50, respectively, they added.
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 103 for buying and Rs 103.25 for selling against last rate. It did not observe further change in the second session and closed at Rs 103 for buying and Rs 103.25 for selling.
Pound Sterling opened at Rs 155 for buying and Rs 155.50 for selling against same last rate. It closed at the same rate without further change by the end of evening session.
Copyright Business Recorder, 2013