BR RESEARCH
KARACHI: The rupee moved up slightly in relation to the dollar on the local money market on Tuesday, dealers said.
INTER-BANK MARKET RATES: RATES: The rupee managed to gain 10 paisas versus the dollar for buying and selling at Rs 154.50 and Rs 154.80 respectively, they said. The rupee fell against the euro for buying and selling at Rs 170.50 and Rs 172.00 respectively, they said.
OPEN MARKET RATES: The rupee inched down by one paisa in terms of the dollar for buying and selling at Rs 154.97 and Rs 154.99 respectively, they said.
In the second Asian trade, the dollar and yen mostly held the safe-haven high ground on Tuesday, with investors wary of a looming deadline for US tariffs on China, the British election and upcoming Federal Reserve and European Central Bank meetings.
Front of mind is whether Washington will go ahead with a fresh round of tariffs on Sunday, or whether a deal with China can be reached before then.
White House economic adviser Larry Kudlow said on Friday that the Dec. 15 deadline is still in place, but Agriculture Secretary Sonny Perdue on Monday raised the possibility the tariffs are not imposed.
The dollar was available versus the Indian rupee at Rs 70.925, the greenback was at 4.159 in terms of the Malaysian ringgit and the US currency was trading against the Chinese yuan at 7.038.
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Open Bid Rs 154.50
Open Offer Rs 154.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs 154.97
Offer Rate Rs 154.99
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RUPEE IN LAHORE: The Pak rupee stayed unchanged on buying side while it appreciated its worth on selling side in relation to the US dollar in the open currency market on Tuesday.
According to currency dealers, the dollar did not observe any change in its demand as it firmly sustained its opening rate for buying at Rs 154.20 whereas it lost 55 paisas and ended lower for selling at Rs 155.00.
Furthermore, the local currency failed to hold its day earlier recoveries versus the pound sterling. The pound’s buying and selling rates rose from the Monday’s closing of Rs 201.40 and Rs 202.50 to Rs 201.80 and Rs 202.80 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 30paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 154.90(buying) and Rs 155(selling) against last rate of Rs 155.20(buying) and Rs 155.30(selling).
It closed at Rs 154.90(buying) and Rs 155(selling).
The buying and selling rates of one tola of gold were Rs. 85,500(selling) and Rs 85,200 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
