Wednesday, September 20th, 2017
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The rupee gained modestly against the dollar on the money market on Tuesday in the process of trading, dealers said. The interesting thing is that the difference between open and inter-bank market rates is narrowing mainly because of smooth supply of greenback, currency experts said. The rupee was unchanged in terms of the dollar for buying and selling at Rs 105.40 and Rs 105.41 respectively, they said.

INTER-BANK MARKET RATES: In the second Asian trade, the dollar held on to most of its gains on Tuesday, following a sharp rebound on improving investor risk sentiment as worries over North Korea and Hurricane Irma receded. The dollar index, which tracks the greenback against a basket of six major rivals, was steady at 91.874, after it skidded to a 2-1/2-year low of 91.011 on Friday.

The euro was little changed at $1.1955 after shedding 0.7 percent overnight. The common currency reached $1.2092 on Friday, its highest since January 2015, as the dollar suffered a broad retreat. The dollar was available versus the Indian rupee at Rs 64.000, the greenback was at 4.204 in terms of the Malaysian ringgit and the US currency was at 6.546 versus the Chinese yuan.

OPEN MARKET RATES: The rupee picked up 10 paisas versus the dollar for buying and selling at Rs 105.60 and Rs 105.80 respectively, they said. The rupee was trading against the euro for buying and selling at Rs 125.00 and Rs 126.50 respectively, they said.


Open Bid Rs.105.60

Open Offer Rs.105.80


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


Bid Rate Rs.105.40

Offer Rate Rs.105.41


RUPEE IN LAHORE: The Pak rupee showed strength as it registered appreciation versus the US dollar on the local currency market on Tuesday.

The demand and supply situation of the US dollar remained under pressure throughout the trading session amidst lack of buyers' interest in the currency market. Consequently, it slipped to Rs 105.40 and Rs 105.85 for buying and selling, respectively, as compared to the overnight trend of Rs 105.70 and Rs 106.10 respectively, local currency dealers said.

The local currency, however, remained under pressure for the second consecutive day against the pound sterling. The pound's buying and selling rates further rose from Monday's closing of Rs 137.60 and Rs 138.50 to Rs 138.45 and Rs 139.00 respectively, they added.

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

The dollar opened at Rs 107.10 (buying) and Rs 107.20 (selling) against same last rate. It closed at Rs 107.10 (buying) and Rs 107.20 (selling) in evening session.

Copyright Business Recorder, 2017

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