The rupee almost managed to hold overnight levels against the dollar on the currency market on Tuesday in the process of trading activity, dealers said.
INTER-BANK MARKET RATES: RATES: The rupee shed 10 paisas versus the dollar for buying at Rs 158.40 while it did not any side for selling at Rs 158.50, they said.
OPEN MARKET RATES: The rupee lost 50 paisas in terms of the greenback for buying at Rs 157.50 while it held the overnight level for selling at Rs 158.50, they said. The rupee shed 50 paisas against the euro for buying and selling at Rs 171.50 and Rs 175.50 respectively, they said.
In the second Asian trade, the safe-haven Japanese yen ticked down and some risk currencies won a brief reprieve on signs of more economic support from policymakers, though choppy conditions on Tuesday underlined fragile confidence in markets frazzled by days of turbulence.
Market liquidity was light and investors remained nervous after coordinated moves by central banks had spectacularly failed to quell trepidation over the coronavirus pandemic.
The dollar rose 0.5% to 106.32 yen, having risen as much as 1.3% to 107.185 as US stock futures bounced back 3% after a 10% fall of more than 10% the previous day. Still, the dollar was down 1.6% so far this week
The euro stood flat at $1.1180, after wild gyrations on Monday.
Helping the dollar against the safe-haven yen were signs governments are stepping up fiscal support measures.
The dollar was trading against the Indian rupee at Rs 74.033, the greenback was at 4.331 versus the Malaysian ringgit and the US currency was available at 7.001 in terms of the Chinese yuan.
Open Bid Rs 157.50
Open Offer Rs 158.50
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
Bid Rate Rs 158.40
Offer Rate Rs 158.50
RUPEE IN LAHORE: The Pak rupee depreciated its worth on buying side while it stayed unchanged on selling side in relation to the greenback in the local currency market on Tuesday.
According to currency dealers, the greenback gained 20 paisas for buying and ended at Rs 156.20 against the opening rate of Rs 156.00 whereas it did not observe any change for selling at Rs 156.90.
Moreover, the local currency significantly improved its worth against the pound sterling. At the close, the pound was bought and sold at Rs 187.50 and Rs 191.50 against the overnight closing trend of Rs 190.50 and Rs 192.70 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 50 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 159.50(buying) and Rs 159.60 (selling) against last rate of Rs 159(buying) and Rs 159.10(selling).
The buying and selling rates of one tola of gold were Rs. 98,700 (selling) and Rs 98,500(buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.