RECORDER REPORT
KARACHI: The rupee moved both ways against the dollar on Tuesday in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee shed one paisa versus the dollar for buying and selling at Rs 104.86 and Rs 104.87 respectively, they said.
OPEN MARKET RATES: The rupee, however, was higher by 10 paisas in terms of the dollar for buying and selling at Rs 106.10 and Rs 106.30 respectively, they said.
The national currency, however, lost 70 paisas versus the euro for buying and selling at Rs 112.20 and Rs 113.70 respectively, they said.
In the second Asian trade, the dollar fell against the yen, as concerns over tensions with North Korea and Syria weighed on US Treasury yields and offset expectations of US interest rate hikes.
The dollar extended earlier losses against the yen, slipping 0.3 percent to 110.63 Japanese yen, moving further away from its overnight high of 111.57. It remained solidly in the 110.11-112.19 range in which it has traded since late March.
The possibility of some kind of US military action against North Korea in response to its weapons tests gained traction after President Donald Trump ordered missile strikes against Syria last week in retaliation for a chemical weapons attack on civilians by President Bashar al-Assad's forces.
"The market has become more cautious about Trump's policies, with attention to increased risks," said Harumi Taguchi, principal economist at IHS Markit in Tokyo. "The yen is easy to buy in such situations."
China and South Korea agreed on Monday to impose tougher sanctions on North Korea if it carries out nuclear or long-range missile tests, a senior official in Seoul said, as a US Navy strike group headed to the region in a show of force.
The dollar was trading against the Indian rupee at Rs 64.560, the greenback was at 4.433 versus the Malaysian ringgit and the US currency was at 6.902 in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Tuesday: 79.77-79.77 (previous 79.75-79.75).
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Open Bid Rs.106.10
Open Offer Rs.106.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.104.86
Offer Rate Rs.104.87
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RUPEE IN LAHORE: The Pak rupee remained depressed and lost its worth against the major currencies including the US dollar and the UK pound sterling in the local currency market on Tuesday.
According to the currency dealers, the dollar's demand continued for another day that kept the rupee under pressure throughout the day.
At close, the dollar was traded at Rs 106.30 and Rs 106.60 against Rs 106.25 and Rs 106.45 of Monday, respectively.
Similarly, the pound sterling kept on rising following fresh demand. The pound was ended further higher at Rs 131.00 and Rs 132.00 on buying and selling counter as compared with the day earlier closing of Rs 130.80 and Rs 131.50, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 106.50 (buying) and Rs 107 (selling). It closed at the same rate. Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It closed at the same rate.
