The rupee gained modestly against the dollar on the money market on Tuesday in the process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee showed no significant change in terms of the dollar for buying and selling at Rs 156.40 and Rs 156.45 respectively, they said.
OPEN MARKET RATES: The rupee rose by 30 paisas in relation to the dollar for buying and selling at Rs 156.10 and Rs 156.60 respectively, they added.
The rupee sustained its levels versus the euro for buying and selling at Rs 171.50 and Rs 173.50 respectively, they added.
In the second Asian trade, the dollar found support on Tuesday while investors awaited the outcome from crucial Sino-US trade talks in Washington, with many staying cautious as neither side has shown signs of giving ground at the negotiations.
The Chinese yuan firmed in onshore and offshore trade as Chinese financial markets reopened after a week-long holiday.
The Australian and New Zealand dollars, whose fortunes are often linked with global trade, edged higher as some investors reduced bearish bets. Dealers warned this move could fade depending on the tone of the trade talks in Washington.
Hopes for a breakthrough are not high, but some investors are trying to scale back their positions, at least temporarily, because the outcome of the trade negotiations cannot be predicted.
The dollar was trading against the Indian rupee at Rs 4.188 and the greenback was at 7.123 in terms of the Malaysian ringgit.
Open Bid Rs.156.10
Open Offer Rs.156.60
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
Bid Rate Rs.156.40
Offer Rate Rs.156.45
RUPEE IN LAHORE: The Pak rupee showed stability as it recovered its earlier losses versus the American dollar and the British pound in the local currency market on Tuesday.
Following lack of buyers' interest in the market, the dollar could not sustain its worth and ended lower for buying and selling at Rs 156.30 and Rs 156.90 against the opening trend of Rs 156.50 and Rs 157.00 respectively local currency dealers said.
Similarly, the national currency also followed the suit in relation to the pound sterling. Consequently, the pound's buying and selling rates drastically declined from the Monday's closing of Rs 192.00 and Rs 192.80 to Rs 190.50 and Rs 192.00 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 Rs 156.90 (buying) and Rs 157(selling) against last rate of Rs 157.30 (buying) and Rs 157.40 (selling).
It closed at Rs 156.90 (buying) and Rs 157 (selling).
The buying and selling rates of one tola of gold were Rs. 87,750 (selling) and Rs 87,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.