A kind of stability prevailed on the money market on Tuesday as the rupee gained slightly against the dollar in the process of trading activity, marketmen said.
In the second Asian trade, the Australian dollar on Tuesday eased to its lowest levels since early January after the nation's central bank flagged a further rate cut, while the British pound was hobbled by rising worries of a no-deal Brexit
With markets focused on US Federal Reserve and Bank of Japan meetings later this week, traders latched on to minutes of the Reserve Bank of Australia's (RBA) June meeting which showed policymakers were prepared to cut rates once more to revive wages growth and inflation.
The pound was under pressure after former foreign minister Boris Johnson got a boost on Monday in his campaign to become prime minister as one of his former rivals and EU supporter Matt Hancock backed him.
The dollar was trading against the Indian rupee at Rs 69.783, the greenback was at 4.181 versus the Malaysian ringgit and the US currency was available at 6.927 in terms of the Chinese yuan.
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Open Bid Rs 155.50
Open Offer Rs 156.50
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Bid Rate Rs 156.80
Offer Rate Rs 156.85
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According to currency dealers, the greenback gained over Rs 2 and ended higher for buying at Rs 156.00 against the opening trend of Rs 153.70 whereas it firmly maintained its overnight closing rate for selling at Rs 157.00.
Moreover, the rupee also stayed unchanged against the pound sterling for buying at Rs 193.00 while it appreciated 30 paisas and ended higher for selling at Rs 195.20, they added.
The dollar opened at Rs 157(buying) and Rs 157.10 (selling) against last rate of Rs 156.50(buying) and Rs 156.60 (selling). It closed at Rs 157(buying) and Rs 157.10(selling).
The buying and selling rates of one tola of gold was Rs 83,310 (selling) and Rs 83,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.