The rupee maintained firm trend against the dollar on the money market on Tuesday in the process of trading activity, dealers said. The rupee managed to hold overnight levels in relation to the dollar for buying and selling Rs 115.61 and Rs 115.62 respectively, they said.
INTER-BANK MARKET RATES: In the second Asian trade, the euro struggled near a 6-1/2-month low against the dollar on Tuesday, as the bounce seen at the start of the week faded and investors took a grim view on the prospect of fresh elections in Italy.
The common currency was little changed at $1.1629 after slipping overnight to $1.1607, its lowest since Nov. 9.
It had spiked to $1.1728 earlier on Monday after Italian President Sergio Mattarella rejected a vocal critic of the single currency as economy minister.
But Mattarella's veto angered the anti-establishment parties which had been trying to forge an alliance, prompting them to abandon their coalition plans and setting the stage for fresh elections.
Financial markets fear that the elections, which could take place as early as August, are seen as a quasi-referendum over Italy's role in the European Union and euro zone and could end up strengthening eurosceptic parties even further.
The dollar was trading against the Indian rupee at Rs 67.695 and the US currency was available at 6.412 in term of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 83.70-83.70 (Previous 83.70-83.70).
OPEN MARKET RATES: The rupee was almost unchanged in terms of the dollar for buying and selling at Rs 118.20 and Rs 118.70 respectively, they said. The national currency, gained sharply versus the euro for buying and selling at Rs 136.50 and Rs 138.00 respectively, they said.
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Open Bid Rs.118.20
Open Offer Rs.118.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.115.61
Offer Rate Rs.115.62
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RUPEE IN LAHORE: The Pak rupee registered reduction versus the American dollar in the local currency market on Tuesday.
According to currency dealers, the short supply phenomenon of the US dollar helped its appreciation higher for buying and selling at Rs 118.20 and Rs 118.80 as compared to the overnight closing rates of Rs 118.10 and Rs 118.70 respectively.
On the contrary, the national currency showed strength as it recovered its earlier losses against the British pound. The pound's buying and selling rates slid from Monday's closing of Rs 157.10 and Rs 158.10 to Rs 156.50 and Rs 157.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 118.50 (buying) and Rs 118.60 (selling) against same last rate. It closed at Rs 118.50 (buying) and Rs 118.60 (selling).
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