The rupee managed to hold overnight levels against the dollar on the money market on Tuesday in the process of trading activity, dealers said. The rupee was almost unchanged in terms of the dollar for buying and selling at Rs 105.39 and Rs 105.40 respectively, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee did not move any side in terms of the dollar for buying and selling at Rs 107.30 and Rs 107.50 respectively, they said.
The rupee gained 60 paisas in relation to the euro for buying and selling at Rs 124.00 and Rs 125.00 respectively, they said.
In the second Asian trade, the dollar languished near a 13-month low against a basket of currencies on Tuesday, with traders sceptical that this week's US Federal Reserve meeting would do much to alter the greenback's recent weak trend.
The Fed is widely expected to keep interest rates unchanged at its two-day meeting that ends on Wednesday. The focus will be on any hints on whether it may raise rates again this year, and when it will begin paring its bond holdings.
Given the recent weakness in US inflation data, the market is guessing that the Fed's tone will be dovish and this seems to be weighing on the dollar, said Stephen Innes, head of trading in Asia-Pacific for OANDA in Singapore.
The dollar index, which measures the greenback against a basket of six major currencies, eased 0.1 percent to 93.916, trading within sight of Monday's 13-month low of 93.823.
The dollar was trading against the Indian rupee at Rs 64.375, the US currency was available at 4.278 in terms of the Malaysian ringgit and the greenback was at 6.749 versus the Chinese yuan.
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Open Bid Rs.107.30
Open Offer Rs.107.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.105.39
Offer Rate Rs.105.41
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RUPEE IN LAHORE: The Pak rupee showed strength as it recovered its earlier losses against the US dollar in the local currency market on Tuesday.
The US dollar resumed trading on a negative note following lack of buyers' interest in the currency market throughout the trading session. At the close, it declined to Rs 107.40 and Rs 107.50 on buying and selling side as compared to the overnight closing rates of Rs 107.80 and Rs 108.30 respectively, local currency dealers said.
Furthermore, the local currency appreciated on buying counter and ended at Rs 138.85 as compared to last closing trend of Rs 139.00. However, no change in its value took place on selling counter as it sustained its opening rate of Rs 139.80, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 106.40 (buying) and Rs 106.50 (selling) against same last rate. It closed at Rs 106.40 (buying) and Rs 10650 (selling).
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