The rupee recovered modestly against the dollar in the inter-bank market on Tuesday in the process of trading activity, dealers said.
In the second Asian trade, the dollar held firm on Tuesday after a key US manufacturing survey showed a surprise recovery, while concerns about a widening coronavirus outbreak in China kept the yuan and the Australian dollar subdued.
The dollar index rose 0.44% on Monday, the biggest gain so far this year and last stood at 97.802. It was boosted by a report from the Institute for Supply Management (ISM) reported that US factory activity unexpectedly rebounded in January after contracting for five straight months amid a surge in new orders.
Against the yen, the dollar traded at 108.62 yen, after a gain of 0.3% on Monday, the biggest gain in a downtrend that started in mid-January.
The euro stood at $1.1062, having slipped 0.3% on Monday. In Asia, coronavirus remained in focus as the number of cases and deaths showed little sign of slowdown.
The dollar was trading against the Indian rupee at Rs 71.198, the greenback was at 4.113 in terms of the Malaysian ringgit and the US currency was available at 6.998 versus the Chinese yuan.
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Open Bid Rs 154.30
Open Offer Rs 154.60
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Bid Rate Rs 154.41
Offer Rate Rs 154.43
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According to currency dealers, the short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 154.20 and Rs 154.80 against the overnight closing rate of Rs 154.00 and Rs 154.45 respectively.
On the other hand, the national currency maintained upward trend for the second consecutive day versus the pound sterling. Consequently, the pound's buying and selling rates further slid from the Monday's closing of Rs 200.30 and Rs 202.00 to Rs 200.20 and Rs 201.50 respectively, they added.
The dollar opened at Rs 154.60(buying) and Rs 154.70(selling) against same last rate.
It closed at Rs 154.60(buying) and Rs 154.70(selling).
The buying and selling rates of one tola of gold were Rs 91,500 (selling) and Rs 91,200(buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.