WEB DESK: Not a single paisa difference was seen in the rupee-dollar parity rates in both the open and interbank markets on Tuesday in the process of forward buying of greenback, dealers said.
According to some money experts, the local currency since the last week had started moving down with gradual pace due to strong demand. They said that owing to high cost of production in the country exporters were demanding to devalue the rupee, on the other hand it is speculated that the International Monetary Fund (IMF) is also interested in the same. They said the rupee may touch 106-level versus the dollar in the short run, but it is most likely that the rupee may manage to recover its loss in terms of the dollar.
INTERBANK MARKET RATES: The rupee lost 52-paisa in terms of the dollar for buying at Rs 105.00 and it also fell by 71-paisa at Rs 105.20, they said.
OPEN MARKET RATES: The rupee followed the same pattern in relation to the dollar, losing 50-paisa for buying and selling at Rs 105.00 and Rs 105.20 respectively, they said. The rupee gave up 45-paisa gains versus the euro for buying and selling at Rs 115.75 and Rs 116.70 respectively, they added.
In the second Asian trade, the dollar was mostly lower, taking its cue from a broad move lower in regional equities and caution ahead of the US Federal Reserve’s two-day meeting that begins later in the session. MSCI’s broadest index of Asia-Pacific shares outside Japan skidded 0.7 percent, as China’s key share indexes gave up more than one percent.
The dollar was trading against the Indian rupee at Rs 64.96, the US currency was available at 4.2600 in terms of the Malaysian ringgit and the US currency was at 6.351 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Tuesday: 77.80-77.93 (previous 77.81-77.88).
Open Bid Rs 105.00
Open Offer Rs.105.20
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
Bid Rate Rs.105.00
Offer Rate Rs.105.20
RUPEE IN LAHORE: The Pak rupee recovered modest losses against the US dollar on the local currency market on Tuesday.
The currency dealers said the dollar resumed trading at its day earlier closing of Rs 104.75 and Rs 105.00 as its buying and selling rate, respectively.
Because of lacking buyer’s interest, the dollar could not sustain and marginally declined to Rs 104.70 and Rs 104.95 on buying and selling side, respectively.
However, the rupee could not continue rising trend and remained under pressure against the pound sterling.
The pound’s buying and selling rate improved from the overnight closing of Rs 159.60 and Rs 160.60 to Rs 160.25 and Rs 160.95, respectively, the dealers said.
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 104 (buying) and Rs 104.25 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 104 (buying) and Rs 104.25 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).