THE RUPEE: mixed posture
The rupee moved both ways against the dollar on the currency market on Tuesday, dealers said. The rupee gave up overnight vulnerability versus the dollar, covering four paisa for buying at 97.68 and gaining five paisa for selling at 97.69, dealers said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee depreciated in relation to the dollar, losing 10 paisa for buying and selling at 99.30 and 99.50, they said. The rupee also shed its value against the euro for buying and selling at Rs 133.00 and Rs 134.00, they said.
In the second Asian trade, the dollar inched lower versus the yen but hovered within sight of a 2-1/2 year high hit a day earlier, while the Australian dollar rose on data showing a rebound in Australian business confidence. The dollar slipped 0.2 percent to 90.71 yen, but was not very far from the previous day's high of 91.26 yen, the greenback's strongest level versus the Japanese currency since June 2010.
The dollar was available against the Indian rupee at Rs 53.66, at 3.0760 in terms of the Malaysian ringgit and at 6.224 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday. 79.25-79.28 (79.28-79.30). Call Money Rates: 08.50-08.50 percent (previous 06.25-08.50 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
RUPEE IN LAHORE:
The national currency on Tuesday recovered its day earlier loss and was improved by five-paisa against the US dollar on the local currency market.
The moneychangers said the dollar commenced traded at its overnight closing of Rs 99.20 and Rs 99.50 on buying and selling rates, respectively but could not sustain in the absence of buying support. On close of trading, the dollar was ended at Rs 99.15 and Rs 99.45 as its buying and selling rates, respectively.
Similarly, the rupee showed strength and was appreciated against the pound sterling. The pound's buying and selling rates were declined from Monday closing of Rs 156.50 and Rs 157.30 to Rs 156 and Rs 157, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI:
The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Tuesday. The dollar resumed trading at Rs 99.20 for buying and Rs 99.30 for selling against the same last rate. It did not observe further change in the second session and closed at Rs 99.20 for buying and Rs 99.30 for selling.
Pound Sterling opened at Rs 159 for buying and Rs 159.20 for selling against the same last rate. It did not observe further change in the second session and closed at Rs 159 for buying and Rs 159.20 for selling respectively.
Copyright Business Recorder, 2013