THE RUPEE: Trend of appreciation continues

Trend of appreciation continued on Tuesday for Pakistan rupee in both interbank and open market.

INTER-BANK MARKET RATES: Pakistan Rupee gained Rs 2.50 against USD in Interbank market for both buying and selling closing at 160.50 and 161.50 respectively.

OPEN MARKET RATES: In the open market, the rupee appreciated by two rupees against USD for both buying and selling closing at 160.50 and 161.50 for respectively, which was same as interbank rate.

Against Euro, PKR appreciated by 1.50 rupee for buying and two rupees for selling closing at 172 and 173 respectively.

Against UAE Dirham, PKR appreciated by one rupee for buying and 1.10 rupee for selling closing at 42 and 42.40 respectively. Against Saudi Riyal, PKR appreciated by 50 paisas for both buying and selling closing at 40.20 and 40.80 respectively.

LAHORE

The Pak rupee maintained upward trend for the second consecutive day versus the greenback and the British pound in the open currency market on Tuesday.

Amidst lack of buyers' interest in the market, the greenback remained under selling pressure for another day and ended further lower for buying and selling at Rs 160.50 and Rs 160.00 against the overnight closing trend of Rs 161.50 and Rs 163.50 respectively, local currency dealers said.

Similarly, the national currency also followed the suit in relation to the pound sterling that was bought and sold at Rs 193.50 and Rs 195.50 against the Monday's closing rate of Rs 195.00 and Rs 197.50 respectively, they added.

ISLAMABAD

The dollar gained 50 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi on Tuesday.

The dollar opened at Rs 163 (buying) and Rs 163.10 (selling) against last rate of Rs 162.50 (buying) and Rs 162.60 (selling).

It closed at Rs 163 (buying) and Rs 163.10 (selling).

The buying and selling rates of one tola of gold were Rs 95,700 and Rs 95,500 (buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.