THE RUPEE: All-round gains

The rupee managed to gain modestly against the dollar on the money market on Tuesday in the process of trading activity, dealers said.

INTER-BANK MARKET RATES: The rupee gained modestly versus the dollar for buying and selling at Rs 155.58 and Rs 155.60 respectively, they said.

OPEN MARKET RATES: The rupee appreciated by 15 paisas in relation to the dollar for buying at Rs 155.30 and it also picked up five paisas for selling at Rs 155.60, they said. The rupee also gained 80 paisas against the euro for buying and selling at Rs 172.80 and Rs 174.80 respectively, they said.

In the second Asian trade, the US dollar advanced against the yen on Tuesday thanks to growing optimism the United States and China are on the verge of reaching a preliminary agreement to scale back their bruising trade war.

Bloomberg also reported that China is reviewing locations in the United States where he could sign a so-called "Phase 1" trade deal with US President Donald Trump.

Both countries have slapped tariffs on each other's goods in a trade war that has dragged on for 16 months and raised the spectre of a global recession.

The US currency rose 0.17% to 0.9895 Swiss Franc, following a 0.2% gain in the previous session.

The dollar index against a basket of six major currencies rose 0.1% to 97.599, reaching its highest in almost a week.

The dollar was trading against the Indian rupee at Rs 70.725, the greenback was at 4.146 versus the Malaysian ringgit and the US currency was available at 7.013 in terms of the Chinese yuan.

========================
Open Bid       Rs 155.30
Open Offer     Rs 155.60
========================

Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.

========================
Bid Rate       Rs 155.58
Offer Rate     Rs 155.60
========================

RUPEE IN LAHORE: The Pak rupee maintained upward for the second consecutive day against the American dollar and the British pound in the local currency market on Tuesday.

Amid lack of buyers' interest in the market, the dollar continued downward slide for another day and ended further lower for buying and selling at Rs 154.55 and Rs 155.35 against the overnight closing rate of Rs 155.00 and Rs 155.40 respectively, local currency dealers said.

Likewise, the rupee also followed the suit in process of trading versus the pound sterling. Consequently, the pound's buying and selling rates also slid from the Monday's closing of Rs 199.60 and Rs 200.90 to Rs 199.20 and Rs 199.70 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 10 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.

The dollar opened at Rs155.70 (buying) and Rs 155.80 (selling) against last rate of Rs155.80 (buying) and Rs 155.90 (selling). It closed at Rs155.70 (buying) and Rs 155.80(selling).

The buying and selling rates of one tola of gold were Rs. 87,850 (selling) and Rs 87,500 (buying) in the local Sarrafa (gold) markets of Islamabad and Rawalpindi.