The rupee failed to resist slide against the dollar on the money market on Tuesday in the process of strong demand from investors and Umrah pilgrims, dealers said. The rupee showed no change against the dollar for buying and selling at Rs 115.61 and Rs 115.62 respectively, they said.
INTER-BANK MARKET RATES: In the second Asian trade, the dollar set a three-month high against a basket of currencies on Tuesday, having gained a boost as the US 10-year Treasury yield climbed toward the psychologically key 3 percent level.
The US 10-year Treasury yield hit its highest in more than four years at 2.998 percent on Monday, driven by worries about the growing supply of government debt and inflationary pressures from rising oil prices.
The US 10-year bond yield later backed off that level and stood at 2.964 percent in Tuesday's Asian trade. Yields have also risen at the short end of the curve, with the US 2-year yield having reached a high of 2.483 percent this week, the highest since September 2008.
The dollar was trading against the Indian rupee at Rs 66.475, the greenback was at 3.906 in relation the Malaysian ringgit and the US currency was at 6.317 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 82.98-82.98 (Previous 82.98-82.98).
OPEN MARKET RATES: The rupee lost 30 paisas in relation to the dollar for buying at Rs 118.30 and it also shed 20 paisas for selling at Rs 118.60, they said. The rupee followed the suit in terms of the euro, losing 20 paisas versus the euro for buying and selling at Rs 144.00 and Rs 145.50 respectively, they added.
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Open Bid Rs.118.30
Open Offer Rs.118.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Saturday.
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Bid Rate Rs.115.61
Offer Rate Rs.115.62
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RUPEE IN LAHORE: The Pak rupee stayed unchanged on buying side while it further depreciated on selling side in relation to the greenback in the local currency market on Tuesday.
According to currency dealers, the greenback commenced trading on its overnight closing of Rs 118.20 and Rs 118.40 as its buying and selling rates, respectively. At the close, it firmly sustained its opening trend for buying at Rs 118.20. However, it further appreciated by 20 paisas for selling at Rs 118.60, they added.
Furthermore, the local currency moved both ways in terms of trading against the pound sterling. Following fluctuating demand and supply situation, the pound was ended for buying and selling at Rs 164.00 and Rs 164.70 as compared to the overnight closing trend of Rs 163.70 and Rs 165.00 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered Rs 1 against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 117.60 (buying) and Rs 117.70 (selling) against last rate of Rs 118.60 (buying) and Rs 118.70 (selling). It closed at Rs 117.60 (buying) and Rs 117.70 (selling).
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