RECORDER REPORT
KARACHI: An easier trend prevailed on the money market on Tuesday as the rupee depreciated against the dollar sharply in the process of trading, dealers said.
INTER-BANK MARKET RATES: Similarly, the rupee also shed 23 paisas in relation to the dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, they said.
In the second Asian trade, the US dollar held on to broad gains, resuming its ascent after last week's brief wobble as the prospect of rising US interest rates this year kept sentiment bullish on the long-run.
A holiday in Japan made for quiet early trade, leaving the dollar steady at 117.36 yen but well up on Friday's trough of 116.05. Against a basket of currencies, the dollar was firm at 102.800 having climbed 0.6 percent overnight.
The euro was sulking at $1.0461 despite strong manufacturing data for the currency bloc, having surrendered all of Friday's brief spike to $1.0700.
The dollar was trading against the Indian rupee at Rs 68.10, the greenback was at 4.4900 versus the Malaysian ringgit and the US currency was available at 6.9547 in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Tuesday: 78.70-78.70 (previous 78.70-78.70).
OPEN MARKET RATES: The rupee dropped 20 paisas versus the dollar for buying and selling at Rs 108.40 and Rs 108.60 respectively, however it gained 20 paisas in terms of the euro for buying and selling at Rs 112.50 and Rs 114.00 respectively, they said.
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Open Bid Rs.108.40
Open Offer Rs.108.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.104.84
Offer Rate Rs.104.85
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RUPEE IN LAHORE: The local currency depreciated against the US dollar in the local currency market here on Tuesday.
The trading of the US dollar commenced on a positive note and kept on moving up during the day's trading session.
At the close, the short supply of the dollar helped its appreciation at Rs 108.20 and Rs 108.60 on buying and selling sides, respectively, as compared to the overnight closing rates of Rs 107.70 and Rs 108.50, said the local currency dealers.
However, the Pakistani rupee stayed weak and depreciated on buying side while it recovered by 10-paisa on selling side versus the pound sterling.
The British currency was bought and sold at Rs 132.00 and Rs 132.50 against the Monday's closing rates of Rs 131.40 and Rs 132.60, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar showed an improvement of Rs 1 against rupee at currency exchange shops of Islamabad and Rawalpindi here on Tuesday.
The dollar resumed trading at Rs 108 (buying) and Rs 108.50 (selling) against last rate of Rs 107 (buying) and Rs 107.50 (selling). It did not observe further change in evening session and closed at Rs 108 (buying) and Rs 108.50 (selling).
Pound Sterling opened at Rs 135 (buying) and Rs 135.10 (selling) against same last week's rate. It did not observe further change in the second session and closed at Rs 135 (buying) and Rs 135.10 (selling).
