The rupee extended overnight declining trend against the dollar on the money market on Tuesday in the process of trading, dealers said. In line with the open market, the rupee also shed eight paisas in relation to the dollar for buying and selling at Rs 110.51 and Rs 110.52 respectively, they said.
INTER-BANK MARKET RATES: In second Asian trade, the dollar languished near a three-month low versus a basket of major currencies on Tuesday as markets reopened at the start of 2018, while Asian currencies such as the Chinese yuan began the year on a high note.
The dollar's index against a basket of six major currencies stood at 92.162. On Friday it had slipped to as low as 92.080, the weakest level since Sept. 22.
The euro edged up 0.1 percent on the day at $1.2018, after having surged 14 percent in 2017 for its best annual performance since 2003.
The euro had risen 1.1 percent in the last week of 2017, bringing it back within sight of a 2-1/2 year peak of $1.2092 set in September.
In addition to political factors such as the Italian election in March, a key factor for the euro in 2018 is how the European Central Bank proceeds with curtailing its massive monetary stimulus.
The dollar was trading against the Indian rupee at Rs 63.725, the greenback was at 4.030 in terms of the Malaysian ringgit and the US currency was at 6.501 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Tuesday: 82.70-82.70 (Previous 82.70-82.70).
OPEN MARKET RATES: The rupee dipped by 40 paisas in terms of the dollar for buying and selling at Rs 111.00 and Rs 111.30 respectively, they said.
The rupee also fell by 90 paisas versus the euro for buying and selling at Rs 132.50 and Rs 134.50 respectively, they added.
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Open Bid Rs.111.00
Open Offer Rs.111.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Saturday.
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Bid Rate Rs.110.51
Offer Rate Rs.110.52
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RUPEE IN LAHORE: The Pak rupee registered reduction in relation to the major currencies including the US dollar and British pound in the local currency market on Tuesday.
According to currency dealers, the short supply phenomenon of the dollar continued to prevail in the currency market which helped its appreciation at Rs 110.80 and Rs 111.40 for buying and selling, respectively, as compared to the overnight closing trend of Rs 110.30 and Rs 110.90 respectively.
Versus the pound sterling, the national currency also followed the same pattern.
Resultantly, the pound's buying and selling rates rose from Monday's closing of Rs 146.40 and Rs 147.60 to Rs 148.00 and Rs 148.80 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 110.65 (buying) and Rs 110.75 (selling) against same last week's rate. It closed at Rs 110.65 (buying) and Rs 110.75 (selling).
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