THE RUPEE: Halts more slide

Mar 09, 2025 PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

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THE RUPEE: Halts more slide

BR Research 23 May, 2019

The rupee halted fresh erosion against the dollar on the local money market on Wednesday in the process of trading activity, dealers said.
In the third Asian trade, the dollar hovered near a four-week high on Wednesday, supported by higher US yields after the United States eased trade restrictions on Chinese telecommunications equipment maker Huawei Technologies.
The move came as a relief to markets hit by escalating trade tensions between the United States and China, though analysts said sentiment remained fragile with tariff negotiations between the world's two The index has risen 1.9% so far this year.
The US Commerce Department blocked Huawei Technologies Co Ltd from buying US goods last week, leading several companies to suspend business with the world's largest telecoms equipment maker.
The dollar was trading against the Indian rupee at Rs 69.748 and the greenback was available at 6.913 in terms of the Chinese yuan.


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Open Bid       Rs.152.00
Open Offer     Rs.153.00
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Bid Rate       Rs.151.90
Offer Rate     Rs.152.00
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Following fluctuating demand and supply situation in the market, the greenback moved both ways and ended for buying and selling at Rs 152.00 and Rs 153.50 against the overnight closing trend of Rs 152.50 and Rs 153.30 respectively, local currency dealers said.
Furthermore, the rupee-pound sterling parity stayed unchanged amidst sluggish trend in the market. The British currency was bought and sold at Rs 190.60 and Rs 192.00 respectively, they added.
The dollar opened at Rs 152(buying) and Rs 152.10(selling) against last rate of Rs 153(buying) and Rs 153.10(selling). It closed at Rs 152(buying) and Rs 152.10(selling).
The buying and selling rates of one tola of gold was Rs 71,300 (selling) and Rs 71,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.

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