THE RUPEE: Modest gains

Rising trend was seen on the money market on Tuesday as the rupee managed to gain in terms of the dollar in the process of trading, dealers said.

INTER-BANK MARKET RATES: RATES: The rupee picked up modestly in relation to the dollar for buying and selling at Rs 154.94 and Rs 154.96 respectively, they said.

OPEN MARKET RATES: The rupee did not move any side versus the dollar for buying and selling at Rs 154.40 and Rs 154.70 respectively, while it shed 30 paisas against the euro for buying and selling at Rs 171.50 and Rs 173.00 respectively, they said.

In the second Asian trade, the British pound fell on Tuesday after reports UK Prime Minister Boris Johnson was seeking a hard line on Britain's transition period after Brexit, while the Aussie dollar dropped on a downbeat tone from the nation's central bank.

Sterling dropped as much as 0.7% to $1.3236, as its Friday's 1-1/2-year peak of $1.3516 looked increasingly like a near-term peak following the massive relief rally after last week's UK election.

Johnson's revised Withdrawal Agreement Bill would require the United Kingdom to have arrangements to leave the European Union be in place by Dec. 31 next year, UK broadcaster ITV reported on Monday.

The move dashes hopes Johnson would take a flexible approach to the end-2020 deadline for a trade deal with the EU after Britain leaves the bloc, which now looks almost certain to happen on Jan. 31 following the landslide Conservative election win.

The dollar was available against the Indian rupee at 70.970, the greenback was at 4.140 in terms of the Malaysian ringgit and the US currency was trading at 6.998 versus the Chinese yuan.

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Open Bid       Rs 154.40
Open Offer     Rs 154.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.

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Bid Rate       Rs 154.94
Offer Rate     Rs 154.96
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RUPEE IN LAHORE: The Pak rupee failed to hold its day earlier recoveries versus the greenback in the open currency market on Tuesday.

According to currency dealers, the short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 154.30 and Rs 154.70 against the overnight closing rate of Rs 154.20 and Rs 154.50 respectively.

On the other hand, the national currency significantly recovered its worth against the pound sterling. The pound's buying and selling rates slid from the Monday's closing of Rs 204.70 and Rs 205.40 to Rs 202.50 and Rs 204.30 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 50 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.

The dollar opened at Rs 155 (buying) and Rs 155.10 (selling) against last rate of Rs 155.50 (buying) and Rs 155.60 (selling).

It closed at Rs 155 (buying) and Rs 155.10 (selling).

The buying and selling rates of one tola of gold were Rs 84,200 (selling) and Rs 84,200 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.