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

INTER-BANK MARKET RATES: RATES: The rupee picked up eight paisas versus the dollar for buying and selling at Rs 154.27 and Rs 154.30 respectively, they said.

OPEN MARKET RATES: The rupee held the overnight levels in terms of the dollar for buying and selling at Rs 154.00 and Rs 154.30 respectively. The rupee shed 30 paisas against the euro for buying and selling at Rs 170.00 and Rs 171.50 respectively.

In the second Asian trade, the safe-haven Japanese yen gained on the dollar on Tuesday, as the market tempered hopes for global monetary easing with worries about its scale and efficacy in combating the economic damage from the coronavirus outbreak.

G7 finance ministers and central bank governors hold a conference call later on Tuesday to discuss measures to deal with the outbreak and its widening economic fallout.

The call, which French and Italian sources said begins at 1200 GMT, comes with markets already betting the US Federal Reserve will lead a round of global monetary easing.

The dollar fell 0.5 percent to 107.80 yen and edged lower on the Swiss franc to 0.9576 francs after Reuters reported, citing an unnamed G7 official, that the G7 draft statement had no fresh fiscal or monetary pledges.

The dollar was available against the Indian rupee at Rs 72.723, the greenback was at 4.204 in terms of the Malaysian ringgit and the US currency was trading versus the Chinese yuan at 6.971.

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Open Bid Rs 154.00

Open Offer Rs 154.30

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

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Bid Rate Rs 154.27

Offer Rate Rs 154.30

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RUPEE IN LAHORE: The Pak rupee appreciated its worth versus major currencies including the greenback and the British pound in the open currency market on Tuesday.

Following lack of buyers' interest in the market, the greenback could not sustain its day earlier recoveries and ended lower for buying and selling at Rs 153.75 and Rs 154.10 against the overnight closing rate of Rs 154.10 and Rs 155.00 respectively, local currency dealers said.

Similarly, the local currency also followed the suit in relation to the pound sterling that was bought and sold at Rs 195.30 and Rs 196.40 against the Monday's closing trend of Rs 195.50 and Rs 197.00 respectively, they added.

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

The dollar opened at Rs 154.50 (buying) and Rs 154.55 (selling) against last rate of Rs 154.45 (buying) and Rs 154.50 (selling).

It closed at Rs 154.50 (buying) and Rs 154.55 (selling).

The buying and selling rates of one tola of gold were Rs Rs. 92,700 (selling) and Rs 92,500(buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020