KARACHI: The rupee traded within a narrow band against the dollar on the money market on Tuesday, dealers said.
INTER-BANK MARKET RATES: The rupee shed three paisas in relation to the dollar for buying at Rs 155.36 while it showed no change for selling at Rs 155.37, they said.
OPEN MARKET RATES: The rupee did not move any side in relation to the dollar for buying at Rs 155.20 while it slipped by 10 paisas for selling at Rs 155.50, they said. The rupee lost 30 paisas in relation to the euro for buying and selling at Rs 171.30 and Rs 172.80 respectively, they said.
In the second Asian trade, the dollar fell against the yen on Tuesday as receding hopes for a preliminary trade deal between the United States and China hurt demand for the greenback.
The yuan touched a two-week low versus the greenback amid doubts about the US-China trade war.
Also Read:THE RUPEE: Steady trend
The Australian dollar also fell after minutes from a Reserve Bank of Australia policy meeting showed central bankers considered cutting rates this month.
The dollar war trading against the Indian rupee at Rs 71.940, the greenback was available at 4.158 in terms of the Malaysian ringgit and the US currency was at 7.026 versus the Chinese yuan.
======================== Open Bid Rs.155.20 Open Offer Rs.155.50 ========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
======================== Bid Rate Rs.155.36 Offer Rate Rs.155.37 ========================
RUPEE IN LAHORE: The Pak rupee depreciated its worth on buying side while it stayed unchanged on selling side in relation to the greenback in the local currency market on Tuesday.
According to currency dealers, the greenback gained 25 paisas during the trading session and ended higher for buying at Rs 155.10 against the opening rate of Rs 154.90 whereas it firmly sustained its overnight trend for selling at Rs 155.25.
Furthermore, the local currency showed stability as it recovered its earlier losses versus the pound sterling. The pound’s buying and selling rates declined from the Monday’s closing of Rs 200.15 and Rs 200.90 to Rs 200.10 and Rs 200.80 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 10 paisas against the dollar on the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 155.55 (buying) and Rs 155.65 (selling) against last rate of Rs 155.65 (buying) and Rs 155.75 (selling).
It closed at Rs 155.55 (buying) and Rs 155.65 (selling).
The buying and selling rates of one tola of gold were Rs 85,716 (selling) and Rs 85,500 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
(This news/article originally appeared in Business Recorder on November 20th, 2019)