BR RESEARCH
KARACHI: The rupee maintained rising trend versus the dollar on the money market on Tuesday in the process of trading, marketmen said.
INTER-BANK MARKET RATES: The rupee gained 1.75 against the dollar for buying and selling at Rs 158.00 and Rs 158.25 respectively, dealers said.
OPEN MARKET RATES: The rupee also gained Rs 2.50 in terms of the dollar for buying and selling at Rs 156.50 and Rs 157.50 respectively, they said. The rupee followed the same patter in relation to the euro for buying and selling at Rs 177.00 and Rs 179.50respectively, they said.
In the second Asian trade, the dollar gave up gains on Tuesday as investors curbed earlier enthusiasm about US-China trade progress while the Australian currency barely budged from recent lows after a central bank rate cut decision offered few clues about future easing.
The yuan also shed its early rise to trade lower on the day after US President Donald Trump said any deal with China would need to be somewhat tilted in favour of the United States, suggesting negotiations may not proceed smoothly.
The US dollar index against a basket of six major currencies earlier rose to its highest in a week but retreated as doubt set in about the resumption of US-China efforts to resolve their trade war.
Market focus now shifts to Reserve Bank of Australia Governor Philip Lowe, who speaks to business leaders in the northern Australian city of Darwin at 0930 GMT, which could provide clues on how much further interest rates could fall.
The dollar was trading against the Indian rupee at Rs 68.995, the US currency was at 4.140 in terms of the Malaysian ringgit and the greenback was available at 6.862 in relation to the Chinese yuan.
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Open Bid Rs.156.50
Open Offer Rs.157.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.158.00
Offer Rate Rs.158.25
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RUPEE IN LAHORE: The Pak rupee maintained upward trend versus the major foreign currencies including the American dollar and the British pound in the local currency market on Tuesday.
Following lack of buyers' interest in the market, the dollar continued to keep going down for the second consecutive day and ended lower for buying and selling at Rs 157.50 and Rs 159.00 against the overnight closing trend of Rs 159.80 and Rs 161.00 respectively, local currency dealers said.
Similarly, the national currency also followed the same suit against the pound sterling. The pound's buying and selling rates further slid from the Monday's closing of Rs 198.50 and Rs 200.50 to Rs 198.00 and Rs 200.00 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained Rs 2 against the dollar at the local currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 159(buying) and Rs 159.10 (selling) against last rate of Rs 161 (buying) and Rs 161.10 (selling). It closed at Rs 159 (buying) and Rs 159.10 (selling).
The buying and selling rates of one tola of gold was Rs 77,700 (selling) and Rs 77,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
