Marginal changes were seen on the money market on Tuesday as the rupee moved cautiously against the dollar in the process of trading, dealers said. The rupee shed two paisas versus the dollar for buying and selling at Rs 104.63 and 104.65, dealer said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee did not show any change in relation to the dollar for buying and selling at Rs 105.00 and Rs 105.20, they said. The rupee also slipped by five paisas in terms of the euro for buying at Rs 116.30 and selling at Rs 117.80.
In the second Asian trade, Major currencies came to a standstill on Tuesday as investors look to this week's policy meetings of the Bank of Japan and Federal Reserve, with speculation rife that the Japanese central bank will make crucial changes to its easing programme.
The dollar dipped to 101.84 yen, about 0.4 percent lower than late last week though it remained well anchored in its trading range of the past weeks between 101.20 and 103.35. BOJ officials have suggested in recent weeks that there is room to cut interest rates further despite criticism that they are hurting financial institutions and even damaging economic sentiment. Indeed, there is talk the BOJ could make negative interest rates the primary focus of its monetary policy at this week's review. The dollar was trading against the Indian rupee at Rs 67.03, the greenback was available at 4.1420 versus the Malaysian ringgit and the US currency was at 6.6692 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday. 78.40-78.40 (previous 78.40-78.40).
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Open Bid Rs.105.00
Open Offer Rs.105.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.104.63
Offer Rate Rs.104.65
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RUPEE IN LAHORE: The Pakistani rupee appreciated against the major currencies including the American dollar and British pound in the local currency market on Tuesday.
The dollar commenced trading on a depressed note and remained under pressure due to lack of buyers' interest. At the close of trading, the dollar finished lower at Rs 104.60 and Rs 105.30 on buying and selling sides, respectively, as compared to the overnight closing of Rs 105.15 and Rs 105.30, local currency dealers said.
Against the pound sterling, the rupee continued to maintain upward trend. The pound's buying and selling rates further declined from Monday's closing of Rs 135.80 and Rs 136.50 to Rs 134.60 and Rs 136.30, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at local currency establishments of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 104.50 (buying) and Rs 105 (selling) against same last rate. It did not observe further change in evening session and closed at the same rates. Pound Sterling opened at Rs 137.50 (buying) and Rs 138 (selling). It did not observe further change in the second session and closed at Rs 137.50 (buying) and Rs 138 (selling) by the end of second session.
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