RECORDER REPORT
KARACHI: Steadier trend was seen on the money market on Tuesday as the rupee retained its overnight levels in relation to the dollar in the process of trading activity, dealers said on Monday.
INTER-BANK MARKET RATES: The rupee sustained its levels versus the dollar for buying and selling Rs 115.61 and Rs 115.62 respectively, they said.
OPEN MARKET RATES: The rupee firmly held its present levels in terms of the dollar for buying and selling at Rs 117.30 and Rs 117.80 respectively, they said. The national currency rose by 95 paisas versus the euro for buying and selling at Rs 139.25 and Rs 140.75 respectively, they said.
In the second Asian trade, the dollar inched up against a basket of currencies on Tuesday from its lowest level in more than a week as hopes for an easing of global trade tensions pushed US bond yields higher.
The dollar's index versus a basket of six major peers rose about 0.1 percent to 92.647, pulling up from 92.243 on Monday, which was its lowest level since May 2.
The benchmark 10-year US Treasury yield edged up about 1 basis point in Asian trading to 3.001 percent, after rising 2 basis points on Monday.
The benchmark yield was supported by signs of an easing in trade tensions between the United States and China after US President Donald Trump pledged to help Chinese telecoms firm ZTE Corp, which has been penalised for violating US sanctions with Iran.
The dollar was trading against the Indian rupee at Rs 67.675, the greenback was available versus the Malaysian ringgit at 3.951 and the US currency was at 6.349 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 83.60-83.60 (Previous 83.10-83.10).
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Open Bid Rs.117.30
Open Offer Rs.117.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.115.61
Offer Rate Rs.115.62
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RUPEE IN LAHORE: The Pak rupee recovered its day earlier losses against the major foreign currencies including the American dollar and the British pound in the local currency market on Tuesday.
According to currency dealers, the US dollar resumed trading on a negative note following lack of buyers' interest in the market. Resultantly, it ended lower for buying and selling at Rs 117.30 and Rs 117.75 as compared to the overnight closing trend of Rs 117.40 and Rs 117.80 respectively, they added.
Versus the pound sterling, the local currency also followed the same suit. Consequently, the pound's buying and selling rates slipped from Monday's closing of Rs 158.50 and Rs 159.30 to Rs 157.40 and Rs 159.00, 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 117.50 (buying) and Rs 118 (selling) against same last rate. It closed at Rs 117.50 (buying) and Rs 118 (selling).
