RECORDER REPORT
KARACHI: Firmness prevailed on the money market on Tuesday as the rupee held it's present levels against the dollar in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee showed no change versus the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectively, they said.
OPEN MARKET RATES: The rupee did not move any side in terms of the dollar for buying and selling at Rs 105.90 and Rs 106.10 respectively, however it lost 20 paisas further in relation to the euro for buying and selling at Rs 114.40 and Rs 115.90 respectively, they said.
In the first Asian trade, The euro steadied, pausing after a rally sparked by the first-round results of the French presidential election, while the Canadian dollar fell after the US slapped duties on Canadian softwood lumber.
The euro last traded at $1.0866, off Monday's peak of around $1.0940, its highest level since Nov 10, after centrist Emmanuel Macron won the first round of the French presidential elections.
Polls show Macron defeating anti-EU, anti-euro nationalist Marine Le Pen in a runoff vote due to take place next month.
The euro's sharp bounce on Monday was partly due to the triggering of stop-loss buying at $1.09, said Tan Teck Leng, forex analyst for UBS Wealth Management in Singapore.
The dollar was trading against eh Indian rupee at Rs 64.310, the greenback was at 4.379 in terms of the Malaysian ringgit and the US currency was at 6.884 against the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Tuesday: 80.03-80.03 (previous 79.95-79.95).
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Open Bid Rs.105.90
Open Offer Rs.106.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.104.85
Offer Rate Rs.104.86
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RUPEE IN LAHORE: The Pak rupee failed to sustain against the major currencies including the American dollar and the British pound in the local currency market on Tuesday.
The local currency dealers said the demand and supply situation of the US dollar remained intact that kept the local currency under pressure throughout the trading session.
Consequently, it rose to Rs 106.00 and Rs 106.40 on buying and selling counters, respectively, as compared to the overnight closing rates of Rs 105.85 and Rs 106.15 respectively, the dealers added.
Versus the pound sterling, the local currency also followed the same suit. The pound' buying and selling rates drifted from Monday's closing trend of Rs 134.50 and Rs 135.30 to Rs 134.60 135.35 respectively, they said.
