BR RESEARCH

KARACHI: The rupee fell modestly against the dollar on the inter-bank market on Tuesday, marketmen said. The dollar picked up versus the rupee on the back of rising demand for payment requirement, they added.

INTER-BANK MARKET RATES: RATES: The rupee lost 60 paisas for buying at Rs 166.60 and it shed 40 paisas for selling at Rs 166.90, they said.

In the second Asian market trade, the dollar rose against the yen on Tuesday as Japanese investors and companies rushed to cover a greenback shortage before their fiscal year end, but sentiment remained fragile as the global coronavirus crisis worsened.

China's yuan held steady even after a key survey showed manufacturing returned to growth in March, but investors remain sceptical of the uptick given many businesses are still struggling to resume operations from coronavirus disruptions.

The pound fell against the dollar and the euro as a sovereign ratings downgrade continued to weigh on sterling, underlining the strain on public finances from a much needed massive fiscal stimulus.

The dollar was trading against the Indian rupee at Rs75.585, the US currency was at 4.298 in terms of Malaysian Ringgit and the greenback was at 7.088 versus the Chinese Yuan.

Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.

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Bid Rate       Rs 166.60


Offer Rate     Rs 166.90


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