RECORDER REPORT
KARACHI: Steadier trend was witnessed on the money market on Tuesday as the rupee almost sustained its overnight levels against the dollar in the process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee moved cautiously in relation to the dollar for buying and selling at Rs 110.55 and Rs 110.56 respectively, they said.
OPEN MARKET RATES: The rupee was almost unchanged in terms of the dollar for buying and selling at Rs 112.40 and Rs 112.70 respectively, they said.
While, the rupee dropped by 30 paisas against the euro for buying and selling at Rs 139.00 and Rs 141.00 respectively, they added.
In the second Asian trade, the dollar held above a recent three-year low against a basket of major currencies on Tuesday, with traders turning their attention to US President Donald Trump's State of the Union speech and a Federal Reserve policy meeting for catalysts.
The dollar rose 0.1 percent against a basket of six major currencies to 89.430, having pulled up from a low of around 88.43 set last week, its weakest level since December 2014.
Analysts said a renewed rise in US bond yields this week lent some support to the dollar. The US 10-year Treasury yield reached a peak of 2.733 percent in Asian trading on Tuesday, the highest since April 2014, and last stood at 2.712 percent.
The euro eased 0.1 percent to $1.2373, edging away from a three-year high of $1.2538 touched last week.
The dollar was available against the rupee at Rs 63.698, the greenback was at 3.894 in terms of the Malaysian ringgit and the US currency was trading at 6.335 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 82.90-82.90 (Previous 82.90-82.90).
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Bid Rate Rs 112.40
Offer Rate Rs 112.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Open Bid Rs 110.55
Open Offer Rs 110.56
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RUPEE IN LAHORE: The Pak rupee registered reduction in process of trading against the greenback in the local currency market on Tuesday.
According to currency dealers, the greenback resumed trading on a positive note following fresh buyers' interest in the market. Consequently, it was closed at Rs 112.30 and Rs 112.60 for buying and selling, respectively, as compared to the overnight closing trend of Rs 112.15 and Rs 112.50 respectively, they added.
Furthermore, the local currency witnessed divergent trend as it moved both ways versus the pound sterling which was bought and sold at Rs 157.50 and Rs 158.40 against Monday's closing of Rs 157.20 and Rs 158.70 respectively, they said.
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 112.25 (buying) and Rs 112.35 (selling) against last rate. It closed at Rs 112.25 (buying) and Rs 112.35 (selling).
