KARACHI: On Tuesday, Pakistan Rupee weakened against USD in interbank and open markets while strengthening against Euro in open market over yesterday's rates. According to a report this behaviour can be explained by dollar holding on to small overnight gains on Tuesday as investors weighed whether an accommodative turn from the European Central Bank later this week could hit the euro. More details can be viewed at https://www.brecorder.com/news/40017201/dollar-hangs-on-as-traders-turn-to-ecb-brexit-wobbles-hit-sterling.
INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee lost 50 paisas for buying and selling against USD over yesterday's rates closing at 166.30 and 166.45 respectively.
OPEN MARKET RATES: In the open market, PKR lost 70 paisas for buying and 60 paisas for selling against USD over yesterday's rates closing at 166.50 and 166.80 respectively.
Against Euro, PKR gained one rupee for both buying and selling closing at 195 and 196.50 respectively.
Against UAE Dirham, PKR lost 5 paisas for buying and 15 paisas for selling closing at 45.10 and 45.40 respectively.
Against Saudi Riyal, PKR lost 5 paisas for buying and 10 paisas for selling reversing yesterday's gains closing at 43.90 and 44.10 respectively.
======================== Open Bid Rs 166.50 Open Offer Rs 166.80 ========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
======================== Bid Rate Rs 166.30 Offer Rate Rs 166.45 ========================
RUPEE IN LAHORE: The Pak rupee stayed unchanged on the buying side while it appreciated its worth on the selling side in relation to the greenback in the local currency market on Tuesday.
According to currency dealers, the greenback did not witness any change in its demand as it firmly sustained its opening rate for buying at Rs 166.00 whereas it lost 20 paisas and closed for selling at Rs 166.50 against the previous rate of Rs 166.70.
Moreover, the rupee continued upward journey for the second consecutive day against the pound sterling. Consequently, the pound's buying and selling rates further declined from Monday's closing of Rs 217.50 and Rs 219.00 to Rs 217.00 and Rs 218.90 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 20 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 167 (buying) and Rs 167.10(selling) against last rate of Rs 167.20 (buying) and Rs 167.30(selling.
It closed at Rs 167 (buying) and Rs 167.10(selling).
The buying and selling rates of one tola of gold was Rs. 119,800(selling) and Rs 119,500 (buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.
Copyright Business Recorder, 2020