THE RUPEE: More gains vs $

KARACHI: After market close on Tuesday, Pakistan Rupee continued to go up against US Dollar in both inter-bank and open markets.

According to reports, in global markets US Dollar weakened in face of concerns over pace of vaccination, its effectiveness regarding new virus strains and impact of planned $1.9 trillion stimulus package.

PKR however went down against Euro in Pakistani open market possibly in reaction to strengthening of Euro in global currency markets.

INTER-BANK MARKET RATES: In the inter-bank market, Pakistan Rupee gained 30 paisas for buying and 65 paisas for selling against USD over yesterday’s rate closing at 159.25 and 159.35 respectively.

OPEN MARKET RATES: In the open market, PKR gained 30 paisas for buying and 40 paisas for selling against USD over yesterday’s rate closing at 159.20 and 159.40 respectively.

Against Euro, PKR lost 50 paisas for buying and one rupee for selling closing at 191.50 and 193 respectively. Against UAE Dirham, PKR gained 15 paisas for buying and 10 paisas for selling closing at 43.20 and 43.40 respectively.

Against Saudi Riyal, PKR gained 20 paisas for buying and 15 paisas for selling closing at 42.10 and 42.30 respectively.

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Open Bid       Rs 159.20
Open Offer     Rs 159.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday

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Bid Rate       Rs 159.25
Offer Rate     Rs 159.35
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RUPEE IN LAHORE: The Pak rupee witnessed a volatile trend in the process of trading against the greenback in the local currency market on Tuesday.

Following fluctuating demand and supply situation, the greenback continued to move both ways throughout the trading session but closed for buying and selling at Rs 159.30 and Rs 160.80 against the overnight closing rate of Rs 159.50 and Rs 160.50 respectively, local currency dealers said.

Moreover, the rupee-pound sterling parity stayed unchanged amid sluggish trading activity in the market. Consequently, the pound firmly closed at its opening trend for buying and selling at Rs 217.50 and Rs 219.00 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 40 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.

The dollar opened at Rs159.80(buying) and Rs 159.90(selling) against last rate of Rs160.20(buying) and Rs 160.30(selling).

It closed at Rs159.80(buying) and Rs 159.90(selling)

The buying and selling rates of one tola of gold was Rs. 108,600 (selling) and Rs108,400(buying) at the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2021