The rupee’s movement was ranged-bound against the dollar on the money market on Tuesday, dealers said. Expectations for arrivals of dollars aided the rupee to resist fall and an impression is coming up that the country’s foreign exchange reserves would also go up in days to come, they said.
INTERBANK MARKET RATES: The rupee was down by 10-paisa in relation to the dollar for buying at Rs 99.10 and it slipped by five-paisa for selling at Rs 99.15, they said.
OPEN MARKET RATES: The rupee, however, gained 15-paisa against the dollar for buying and selling at Rs 99.85 and Rs 100.05, they said. The rupee fell sharply versus the euro, dropping by Rs 1.40 for buying and selling at Rs 139.65 and Rs 140.00, they said.
In the second Asian trade, the safe-haven yen stayed below a recent peak against the dollar and the euro stood firm as anxiety over the Ukraine crisis ebbed for the time being. Economic sanctions imposed by the United States and the European Union against Russia following Crimea’s weekend vote to join Moscow were seen as too modest to dramatically escalate near-term tensions over the former Soviet republics – reducing demand for flight-to-safety currencies such as the yen and the Swiss franc.
The dollar was trading against the Indian rupee at Rs 60.92, the greenback was at 3.2678 versus the Malaysian ringgit and the US currency was at 6.1853 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Tuesday: 77.70-77.70 (77.71-77.71). Call Money Rates: 06.25-08.25 percent (previous 05.25-08.25 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
RUPEE IN LAHORE: The Pak rupee showed stability and remained unchanged against the major currencies including US dollar and British pond on the local currency market on Tuesday.
According to the currency dealers, the dollar was opened on its day earlier closing of Rs 100.50 and Rs 101.50, as its buying and selling rates, respectively. The dollar did not witness any change its rate during the day’s trading and was closed at the opening level, the dealers said.
Similarly, the national currency stayed unchanged amid low trading activity against the pound sterling. The pound was purchased and sold at its Monday closing of Rs 167.00 and Rs 168.50, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 100 for buying and Rs 100.10 for selling against same last rate. It did not observe further change in the second session and closed at Rs 100 for buying and Rs 100.10 for selling.
Pound Sterling opened at Rs 165 for buying and Rs 165.50 for selling against same last rate. It closed at the same rate without further change by the end of evening session.