A slight improvement in supply of dollar helped the rupee to extend its rise against the US currency on the local currency market on Tuesday, dealers said.
INTER-BANK MARKET RATES: The rupee gained five-paisa in relation to the dollar for buying and selling at Rs 101.79 and Rs 101.82 respectively, they said.
OPEN MARKET RATES: The rupee firmly held the overnight levels against the dollar for buying and selling at Rs 102.40 and Rs 102.60 respectively, they said.
The rupee moved up by five-paisa further versus the euro for buying and selling at Rs 108.20 and Rs 108.45, they said
In the second Asian trade, the euro brushed a fresh two-year low against a broadly firmer yen, as the Japanese currency doggedly held on to gains made in the previous session.
Analysts and market participants said the trigger for investors to unwind their bearish yen positions overnight was comments from Koichi Hamada, an economic adviser to Japan’s Prime Minister Shinzo Abe.
Hamada told a TV programme on Monday that the yen’s current level of around 120 per dollar is very weak. The dollar was trading against the Indian rupee at Rs 62.51, the greenback was at 3.7040 versus the Malaysian ringgit and the US currency was at 6.2140 in terms of the Chinese yuan.
Open Bid Rs.102.40
Open Offer Rs.102.60
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
Bid Rate Rs.101.79
Offer Rate Rs.101.82
RUPEE IN LAHORE: The rupee has failed to keep its surge losing five paisas against the greenback on the local currency market on Tuesday.
The dollar resumed trading at its day earlier closing of Rs 102.50 and Rs 102.75 as its buying and selling rate and witnessed a slight increase in its demand pushing its rate up to Rs 102.55 and Rs 102.80 on buying and selling side.
While the rupee, remained under pressure and declined against the pound sterling whose buying and selling rate improved from overnight closing of Rs 149.50 and Rs 149.75 to Rs 149.75 and Rs 150.00.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 101.75 (buying) and Rs 101.85 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 101.75 (buying) and Rs 101.85 (selling).
Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 155 (buying) and Rs 155.50 (selling).