The dollar maintained upward march against the rupee on the money market on Tuesday in the process of trading activity, marketmen said. They said it's very interesting to note that how the dollar performs after the announcement of the Federal Budget 2019-20.
In the second Asian trade, the yen eased on Tuesday as investors' risk appetite ticked up after the United States shelved plans to impose tariffs on Mexico, though fresh US trade threats against China tempered overall market sentiment.
Financial markets over the last year have been gripped by fears of escalating trade tensions between the world's two largest economies, stoking worries over the outlook for global growth.
The dollar index, which measures the greenback against a basket of six peers, edged up 0.05% to 96.799, building on a 0.2% gain achieved overnight.
The dollar was trading against the Indian rupee at Rs 69.470, the greenback was at 4.163 in terms of the Malaysian ringgit and the US currency was available at 6.918 versus the Chinese yuan.
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Open Bid Rs 151.00
Open Offer Rs 152.00
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Bid Rate Rs 151.40
Offer Rate Rs 151.50
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According to currency dealers, the short supply phenomenon of the greenback prevailed for another day in the market which helped its further appreciation for buying and selling at Rs 150.70 and Rs 151.95 against the overnight closing trend of Rs 149.00 and Rs 151.00 respectively.
Similarly, the local currency also followed the same suit against the pound sterling. Consequently, the pound's buying and selling rates further rose from the Monday's closing of Rs 187.00 and Rs 188.80 to Rs 189.00 and Rs 190.30 respectively, they added.
The dollar opened at Rs 151.50 (buying) and Rs 151.60 (selling) against last rate of Rs 150 (buying) and Rs 150.10 (selling). It closed at Rs 151.50 (buying) and Rs 151.60 (selling).
The buying and selling rates of one tola of gold was Rs 72,400 (selling) and Rs 72,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
The buying and selling rates of one tola of gold was Rs 69,800 (selling) and Rs 69,500 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.