The rupee reacted positively against the dollar on the money market on Tuesday in the process of trading activity, dealers said. The rupee also rose by one paisa in relation to the dollar for buying and selling at Rs 110.54 and Rs 110.55 respectively, they said. In the second Asian trade, the euro held steady on Tuesday, taking a breather after having rallied on the back of optimism about the euro zone's economic outlook and expectations for the European Central Bank to wind down its massive monetary stimulus.
INTER-BANK MARKET RATES: Comments by the Estonian central bank chief and ECB rate-setter Ardo Hansson on Monday reinforced those expectations, with Hansson telling a German newspaper that the ECB could end its 2.55 trillion euro bond-buying scheme in one step after September if the economy and inflation develop as now expected.
The euro last changed hands at $1.2263, staying within sight of Monday's peak of about $1.2296, its strongest since December 2014.
Market participants said they expect the euro to remain on solid footing in the near term.
The dollar's index against a basket of six major currencies stood at 90.509, having pulled up from Monday's three-year low of 90.279.
The rupee was trading against the Indian rupee at Rs 63.660, the greenback was available at 3.954 in terms of the Malaysian ringgit and the US currency was at 6.440 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Tuesday: 82.83-82.83 (Previous 82.80-82.80).
OPEN MARKET RATES: The rupee recovered overnight losses versus the dollar, picking up 10 paisas for buying and selling at Rs 111.80 and Rs 112.10 respectively, they said.
The rupee also gained 40 paisas against the dollar for buying and selling at Rs 136.0 and Rs 138.00 respectively, they added.
========================
Open Bid Rs.111.80
Open Offer Rs.112.10
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
========================
Bid Rate Rs.110.54
Offer Rate Rs.110.55
========================
RUPEE IN LAHORE: The Pak rupee showed stability in relation to the US dollar in the local currency market on Tuesday.
According to currency dealers, the dollar resumed trading on a negative note following lack of buyers' interest in the market. Consequently, it slid to Rs 111.60 and Rs 112.10 for buying and selling, respectively, as compared to the overnight closing trend of Rs 111.80 and Rs 112.20 respectively, they added.
Moreover, the local currency recovered by 25 paisas against the pound sterling for buying at Rs 152.90.
However, no change in its value took place for selling as it maintained its opening trend of Rs 154.00, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar was firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 112.25 (buying) and Rs 112.35 (selling) against last rate of Rs 112 (buying) and Rs 112.10 (selling). It closed at Rs 112.25 (buying) and Rs 112.35 (selling).
Comments
Comments are closed for this article.