An easier trend persisted on the money market on Tuesday in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee continued showing weakness in terms of the dollar, losing seven paisa for buying and selling at Rs 101.57 and Rs 101.59, respectively.
OPEN MARKET RATES: The rupee remained firm in relation to the dollar for buying and selling at Rs 101.40 and Rs 101.60, respectively, they said. While, the local currency lost 65 paisa against the euro for buying and selling at Rs 115.75 and Rs 116.00, respectively, they said.
In the second Asian trade, the euro skidded after a collapse in talks to secure a new debt deal for Greece kept markets guessing about the next chapter in the nerve-wracking saga as Athens tries to secure improved terms with its creditors.
The common currency was little changed at $1.1365, after slipping from Monday’s high of $1.1429 and back near the bottom of its prevailing $1.1270-1.1534 range. Trading overnight was relatively light with US markets shut for a public holiday.
The dollar was trading against the Indian rupee at Rs 62.16, the greenback was at 3.5875 in terms of the Malaysian ringgit and US currency was available at 6.253 versus the Chinese yuan.
Interbank buy/sell rates for the taka against the dollar on Tuesday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 07.00-09.00 percent (Previous 07.00-09.00 percent).
The Pak rupee failed to maintain upward move and lost five-paisa in relation to the greenback on the local currency market on Tuesday.
According to the currency dealers, the dollar resumed trading at its overnight closing of Rs 101.50 and Rs 101.75 as its buying and selling rate, respectively. However, as a result of marginal increase in the dollar’s demand, its rate was improved to Rs 101.55 and Rs 101.80 on buying and selling side, respectively, the dealers said. However, the rupee-pound sterling parity stayed unchanged amid sluggish trading trend. The pound was purchased and sold at its Monday closing of Rs 155.55 and Rs 155.80, respectively, they added.
The rupee gained strength against the dollar on the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 100.75 (buying) and Rs 101 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 100.75 (buying) and Rs 101 (selling). Pound Sterling opened at Rs 152 (buying) and Rs 153 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 152 (buying) and Rs 153 (selling).