THE RUPEE: minor changes

Slight changes were seen on the currency market on Tuesday as dollar supply was enough to meet the demand, dealers said. The rupee gained five paisa in relation to the US currency for buying at 86.15 while it did not show any change for selling at 86.35, they added.
OPEN MARKET RATES: The rupee managed to appreciate against euro, rising Rs 1.82 for buying and selling at Rs 122.45 and Rs 122.95, they said. In the second Asian trade the safe-haven Swiss franc gained on Tuesday on worries about the global economy even as the US looked to have averted a debt default after the House of Representatives approved an 11th hour deal to raise the government's borrowing limit.
Strength in yen also drew more warnings from Japanese officials about possible intervention and nudged the Bank of Japan closer to a further easing in policy.
The yuan closed down slightly versus dollar on Tuesday after the People's Bank of China set a weaker mid-point, following a slight rebound in the dollar index after the passage of a last-minute deal to raise the US borrowing limit. Inter bank buy/sell rates for taka against dollar on Tuesday: 74.72/74.7350 (previous 74.68/74.75) Call Money Rates: 7.00-12.00 percent (previous 6.75-12.00 percent). Indian rupee was trading at Rs 44.07 versus dollar and Malaysian ringgit was at 2.9470 in terms of the greenback.

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Open Buying     Rs 86.15

Open Selling    Rs 86.35

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RUPEE IN LAHORE: The lost five paisa on buying side and was unchanged on selling side in relation to dollar on Lahore currency market on Tuesday. According to dealers, the dollar resumed trading at Monday's Rs 86.15 and Rs 86.35 as buying and selling rates, and ended at Rs 86.20 and Rs 86.35, respectively.
On the contrary, the rupee maintained rise against British pound. The pound's buying and selling rates declined from overnight Rs 140.50 and Rs 141.50 to Rs 140.10 and Rs 141.00 respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar resumed trading at Rs 86.00 (buying) and Rs 86.30 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 86.00 (buying) and Rs 86.30 (selling). Pound Sterling opened at Rs 138.30 (buying) and Rs 138.45 (selling) against the overnight value. It did not observe further change in the evening session and closed at Rs 138.30 (buying) and Rs 138.45 (selling).
Copyright Business Recorder, 2011