The rupee managed to hold overnight levels against the dollar on the local money market on Tuesday in the process of trading activity, dealers said. They said the rupee halted fresh erosion versus the dollar; on the other hand the national currency was gaining ground versus other major currencies, which was a disturbing factor for the local exporters.
INTER-BANK MARKET RATES: The rupee was inert versus the dollar for buying and selling at Rs 104.85 and Rs 104.86 respectively.
In the second Asian trade, the dollar slipped against the yen on Tuesday, as the Japanese currency benefited from its safe-haven status, with the appetite for risk curbed by US President Donald Trump's hardening defence over his immigration policies.
The dollar was down 0.2 percent at 113.570 yen after dropping to as low as 113.240. It lost more than 1 percent overnight, when it was knocked off its perch above 115.000.
The latest blow against the dollar was initiated after Trump ordered a temporary ban over the weekend on the entry of refugees and people from seven Muslim-majority countries.
On Monday, the president fired acting US Attorney General Sally Yates after she refused to defend Trump's new travel restrictions. Selling of the dollar appeared to have briefly gained momentum after Trump's move, said a dealer at a Japanese bank.
The dollar was available against the Indian rupee at at Rs 67.87, the greenback was trading versus the Malaysian ringgit at 4.4270 and the US currency was at 6.8807 in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Tuesday: 79.0950-79.1000 (previous 79.06-79.07).
OPEN MARKET RATES: The rupee retained overnight levels in relation to the dollar for buying and selling at Rs 107.70 and Rs 107.90 respectively, however it lost 65 paisas in terms of the euro for buying and selling at Rs 115.25 and Rs 116.75 respectively, they said.
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Open Bid Rs 107.70
Open Offer Rs 107.90
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs 104.85
Offer Rate Rs 104.86
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RUPEE IN LAHORE: The Pakistani rupee slid marginally on the buying side while it stayed unchanged on selling side against the US dollar in the local currency market here on Tuesday.
According to currency dealers, the US dollar commenced trading on its overnight closing rates of Rs 107.95 and Rs 108.20 as its buying and selling rates, respectively.
Following lack of buyers' interest, it registered appreciation and ended higher at Rs 108.00 on buying counter.
However, no change in its value took place as it sustained its overnight trend of Rs 108.20 on selling counters, respectively, they added.
Furthermore, the local currency appreciated against the pound sterling on buying side, however, it stayed unchanged on selling side in the currency market, they said.
The British currency was bought and sold at Rs 133.60 and Rs 135.00, respectively, as compared to the Monday's closing rates of Rs 134.00 and Rs 135.00, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of dollar against the rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 108.30 (buying) and Rs 108.40 (selling) against same last rate and it also closed at the same levels.
Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It did not observe further change in the second session and closed at Rs 130 (buying) and Rs 131.50 (selling).
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