The rupee fell modestly in relation to the dollar on the money market on Tuesday in the process of trading, dealers said. The rupee held the overnight levels in relation to the dollar for buying and selling at Rs 104.85 and Rs 104.86, they said. In the second Asian trade, the dollar gained on Tuesday, taking its cue from higher US Treasury yields as investors awaited minutes from the Federal Reserve's latest meeting for signals to the pace of interest rate hikes.

INTER-BANK MARKET RATES: The dollar rose 0.5 percent to 113.64 yen, moving back toward its two-week peak of 114.955 yen touched last Wednesday. Higher US yields bolstered the greenback, after US markets were closed for the Presidents Holiday on Monday. The yield on benchmark 10-year notes stood at 2.443 percent in Asian trading, compared with its US close on Friday at 2.425 percent.

The dollar index, which tracks the US unit against a basket of six major rival currencies, rose 0.3 percent to 101.210. The dollar was trading against the Indian rupee at Rs 66.92, the greenback was at 4.4580 versus the Malaysian ringgit and the US currency was at 6.8845 in terms of the Chinese yuan.

OPEN MARKET RATES: The rupee dropped 10 paisas versus the dollar for buying and selling at Rs 107.10 and Rs 107.30, they said. It, however, gained 55 paisas against the euro for buying and selling at Rs 112.70 and Rs 114.10, they said.

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Open Bid       Rs.107.10

Open Offer     Rs.107.30

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.

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Bid Rate       Rs.104.85

Offer Rate     Rs.104.86

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RUPEE IN LAHORE: The local currency remained under pressure for the second consecutive day against the US dollar in the local currency market on Tuesday.

According to currency dealers, the US dollar commenced trading on a positive note and kept on rising during the day's trading session.

Due to the short supply, it further rose to Rs 107.30 and Rs 107.60 on buying and selling counters, respectively, as compared to the overnight closing rates of Rs 107.20 and Rs 107.45, respectively, they added. Moreover, the local currency showed stability as it stayed unchanged on buying side at Rs 132.60 against the British pound. However, it remained depressed on selling side and ended at Rs 133.35 as compared to the Monday's closing rate of Rs 133.25, respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Tuesday.

The dollar opened at Rs 108.10 (buying) and Rs 108.20 (selling) and it closed at the same rate.

Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It closed at the same rate.

Copyright Business Recorder, 2017