RECORDER REPORT
KARACHI: A kind of firmness prevailed on the money market on Tuesday as the rupee sustained rising trend against the dollar in process of trading, experts said.
INTER-BANK MARKET RATES: The rupee managed to hold present levels versus the dollar for buying and selling at Rs 110.56 and Rs 110.58, they said.
In the second Asian trade, The dollar held steady versus the yen on Tuesday, supported by receding fears about a trade war stemming from US President Donald Trump's proposed tariffs on imported steel and aluminium.
The dollar had tumbled to 16-month lows against the safe-haven yen late last week as concerns about a trade war gripped markets after Trump announced his plan for steel and aluminium tariffs.
The dollar's bounce against the yen, however, was still too moderate to suggest that a downtrend seen over the past couple of months had come to an end, Ino said.
The dollar was trading against the Indian rupee at Rs 64.983, the US currency was at 3.902 versus the Malaysian ringgit and the US currency was at 6.340 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday. 82.96-82.96 (Previous 82.96-82.96).
OPEN MARKET RATES: The rupee rose by 10 paisas in relation to the dollar for buying and selling at Rs 111.60 and Rs 111.90, they said. The rupee followed the same pattern in terms of the euro, picking up five paisas for buying and selling at Rs 137.25 and Rs 138.75, they added.
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Open Bid Rs.111.60
Open Offer Rs.111.90
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.110.56
Offer Rate Rs.110.58
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RUPEE IN LAHORE: The Pak rupee stayed unchanged on buying side while it depreciated on selling side in relation to the greenback in the local currency market on Tuesday.
According to currency dealers, the greenback commenced trading on its overnight closing of Rs 111.40 and Rs 111.90 as its buying and selling rates, respectively. At the close, it firmly held its opening rate for buying at Rs 111.40.
However, it recovered by 10 paisas for selling at Rs 112.00, they added.
Moreover, the national currency also followed the same suit in terms of trading versus the British pound which was bought and sold at Rs 153.00 and Rs 153.50 against Rs 152.60 and Rs 153.60 of Monday, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed sharp recovery against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened with 20 paisas gain versus the rupee at Rs 111.80 (buying) and Rs 112 (selling) against last rate of Rs 112 (buying) and Rs 112.10 (selling). It closed at Rs 111.80 (buying) and Rs 112 (selling).
