Firmness prevailed on the money market on Tuesday as the rupee moved up slightly versus the dollar in the process of trading activity, dealers said.
In the second Asian trade, the Australian dollar held firm on Tuesday near a 4-1/2-month peak on optimism about US-China trade relations, while the British pound was on the defensive as worries resurfaced about a chaotic departure from the European Union.
The Australian dollar fetched $0.69175 flat in Asia but within striking distance of its Dec. 13 peak of $0.6939, its highest level since late July. The currency has gained over 1% in the past four sessions.
China said on Monday it will lower tariffs on products ranging from frozen pork and avocado to some types of semiconductors next year as Beijing looks to boost imports amid a slowing economy and a trade war with the United States.
The euro stood almost flat at $1.1087 while the yen was little changed at 109.40 yen per dollar. The dollar index stood at 97.689, off Monday's high of 97.820.
The dollar was trading against the Indian rupee at Rs 71.220, the greenback was at 4.138 in terms of the Malaysian ringgit and the US currency was available at 7.010 versus the Chinese yuan.
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Open Bid Rs 154.60
Open Offer Rs 154.90
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Bid Rate Rs 154.89
Offer Rate Rs 154.91
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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 154.80 and Rs 155.20 against the overnight closing rate of Rs 154.60 and Rs 155.00 respectively.
On the other hand, the local currency showed stability as it recovered its day earlier losses versus the pound sterling. The pound's buying and selling rates slid from the Monday's closing of Rs 200.20 and Rs 201.20 to Rs 199.20 and Rs 200.50 respectively, they added.
The dollar opened at Rs 155.10(buying) and Rs 155.20(selling) against last rate of Rs 155.20(buying) and Rs 155.30(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 84,400 (selling) and Rs 84,200 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.