The rupee managed to gain against the dollar on the money market on Tuesday in process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee fell slightly in relation to the dollar for buying and selling at Rs 138.94 and Rs 138.95, they said.
OPEN MARKET RATES: The rupee gained 20 paisas in terms of the dollar for buying at Rs 139.40 while it also rose by 30 paisas for selling at Rs 139.70, they said. The rupee, however, dropped 30 paisas versus the euro for buying at Rs 158.00 while it did not show any change for selling at Rs 159.50, they said.
In the second Asian trade, the dollar was fragile in Asian trade on Tuesday as markets speculated growth worries will prompt the Federal Reserve to signal a pause to its monetary tightening cycle at this week's meeting.
Asian equities were hit hard after a rout on Wall Street overnight following a drum roll of weak data globally, reinforcing bets the Fed's widely expected rate hike on Wednesday would usher in a slowdown, or even a pause, to three years of steady rate increases.
Senior Fed officials, including Fed Chairman Jerome Powell, have recently become more cautious about the policy outlook that underlined a shift in market sentiment from a few months ago on rising signs of a slackening in the global economy. The dollar index was marginally lower at 97.08 after losing 0.4 percent on Monday.
The dollar was trading against the Indian rupee at Rs 71.255, the greenback was at 4.175 in terms of the Malaysian ringgit and the US currency was available at 6.893 versus the Chinese yuan.
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Open Bid Rs.139.40
Open Offer Rs.139.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.138.94
Offer Rate Rs.138.95
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RUPEE IN LAHORE: The Pak rupee witnessed divergent trend in process of trading against the greenback in the local currency market on Tuesday.
The greenback resumed trading on a mixed pattern following fluctuating demand and supply situation in the market. As a result, it was traded for buying and selling at Rs 139.30 and Rs 140.30 against the overnight closing rates of Rs 139.20 and Rs 140.50 respectively, local currency dealers said.
Furthermore, the national currency failed to hold its strength as it registered reduction versus the pound sterling. The pound's buying and selling rates improved from Monday's closing of Rs 174.70 and Rs 176.00 to Rs 175.50 and Rs 176.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 50 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 139.50(buying) and Rs 139.60(selling) against last rate of Rs 140(buying) and Rs 140.10(selling). It closed at Rs 139.50(buying) and Rs 139.60(selling).
The buying and selling rates of one tola of gold was Rs 67,200(selling) and Rs 67,000(buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
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