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Firmness prevailed on the money market on Tuesday as the rupee sustained overnight levels against the dollar in process of trading activity, dealers said.

Marketmen said the State Bank of Pakistan (SBP) held its main policy rate at 13.25 percent as it acknowledged economic improvement coupled with continued inflationary pressures.

They hope the supply of dollars may improve in the coming days.

INTER-BANK MARKET RATES: RATES: The rupee did not move any side versus the dollar for buying and selling at Rs 154.56 and Rs 154.58 respectively, they said.

OPEN MARKET RATES: The rupee picked up 10 paisas in relation to the dollar for buying and selling at Rs 154.50 and Rs 154.80 respectively, they said. The rupee was unmoved in terms of the euro for buying and selling at Rs 170.00 and Rs 171.50, they said.

In the second Asian trade, the yuan was mired near its weakest level in a month in offshore trade on Tuesday as heightened anxiety about the economic impact of a deadly new coronavirus in China battered riskier assets.

The Japanese yen, considered a safe-haven, traded near a three-week high versus the dollar as investors nervously watched the spread of a virus that has already claimed 81 lives in China.

Global stocks and oil prices have tumbled over recent sessions on fears the virus could do further damage to China's already weakened economy, an engine of global growth.

The dollar was trading against the Indian rupee at Rs 71.330 and the greenback was available at 4.082 in terms of the Malaysian ringgit.

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Open Bid Rs 154.50

Open Offer Rs 154.80

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

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Bid Rate Rs 154.56

Offer Rate Rs 154.58

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RUPEE IN LAHORE: The Pak rupee depreciated its worth against the American dollar in the local currency market on Tuesday.

According to currency dealers, the short supply phenomenon of the dollar prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 154.50 and Rs 154.90 against the Monday's closing rate of Rs 154.25 and Rs 154.75 respectively.

Furthermore, the national currency witnessed divergent trend as it moved both ways in relation to the pound sterling. The pound was bought and sold at Rs 201.10 and Rs 202.50 against the overnight closing rate of Rs 201.40 and Rs 202.40 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 25 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.

The dollar opened at Rs 155.10 (buying) and Rs 155.20 (selling) against last rate of Rs 155.35 (buying) and Rs 155.45 (selling).

It closed at Rs 155.10 (buying) and Rs 155.20 (selling).

The buying and selling rates of one tola of gold were Rs 91,200 (selling) and Rs 91,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020