RECORDER REPORT
KARACHI: The rupee maintained rising trend against the dollar on the money market on Tuesday in the process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee stayed put in relation to the dollar for buying and selling at Rs 115.61 and Rs 115.62 respectively, they said.
In the second Asian trade, the euro was supported by signs of stability in Italian politics and the dollar maintained an uptrend against the yen after a strong US jobs report sparked bets of three more US rate hikes by the end of year.
The common currency rose to 128.50 yen, up 3.0 percent from an 11-month low of 124.82 yen touched a week ago.
The dollar traded at 109.95 yen, up 0.1 percent and extending its recovery from a five-week low of 108.115 yen touched on Tuesday. Strong US employment data published on Friday revived bets that the Federal Reserve will raise interest rates three more times this year.
The Fed is widely expected to raise rates at its policy meeting next week, following up on a rate hike in March. The dollar was trading against the Indian rupee at Rs 67.210, the greenback was available at 3.970 and the US currency was at 6.412 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 83.70-83.70 (Previous 83.70-83.70).
OPEN MARKET RATES: The rupee gained 10 paisas against the dollar for buying and selling at Rs 118.10 and Rs 118.60 respectively, they said. The rupee rose by 20 paisas versus the euro for buying and selling at Rs 137.80 and Rs 139.30 respectively, they said.
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Open Bid Rs.118.10
Open Offer Rs.118.60
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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 maintained upward trend for another day against the major foreign currencies including the US dollar and the British pound in the local currency market on Tuesday.
According to currency dealers, the US dollar remained under pressure and kept on declining for the second consecutive day amidst lack of buyers' interest in the market. Resultantly, it further ended lower for buying and selling at Rs 118.20 and Rs 118.80 as compared to the overnight closing trend of Rs 118.50 and Rs 119.00 respectively, they added.
Versus the pound sterling, the local currency also followed the same suit for another day. The pound's buying and selling rates further slid from Monday's closing of Rs 157.00 and Rs 158.40 to Rs 156.50 and Rs 157.40 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 50 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at 118.50 (buying) and Rs 118.60 (selling) against last rate of Rs 119 (buying) and Rs 119.10 (selling). It closed at Rs 118.50 (buying) and Rs 118.60 (selling).
