INTER-BANK MARKET RATES: In the second Asian trade, the dollar inched higher versus a basket of major currencies on Tuesday, clinging above a three-year low set last week, but its outlook was clouded by concerns that the ballooning US fiscal deficit could disrupt the economy.
The dollar's index versus six major peers stood at 89.347, about 1.2 percent above Friday's three-year low of 88.251.
The dollar has been weakening in recent months, with the positive impetus from rising US interest rates offset by a barrage of bearish factors.
Initially, the view that other central banks will catch up with the Federal Reserve in tightening policy this year was cited as a reason for the dollar's underperformance.
The dollar was available against the Indian rupee at Rs 64.520, the greenback was at 3.894 in terms of the Malaysian ringgit and the US currency was at 6.345 in relation to the Chinese yuan.
OPEN MARKET RATES: The rupee dropped by 10 paisas in relation to the dollar for buying and selling Rs 111.50 and Rs 111.80 respectively, however it gained 70 paisas against the euro for buying and selling at Rs 136.80 and Rs 138.30 respectively, they added.
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Open Bid Rs.111.50
Open Offer Rs.111.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.110.56
Offer Rate Rs.110.58
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RUPEE IN LAHORE: The Pak rupee depreciated on buying side while it stayed unchanged on selling side against the US dollar in the local currency markets on Tuesday.
According to currency dealers, the dollar resumed trading on its overnight closing of Rs 111.40 and Rs 111.85 as its buying and selling rates, respectively. At the close, it gained by 15 paisas for buying at Rs 111.55. However, in firmly held its opening rate for selling at Rs 111.85, they added.
On the contrary, the local currency showed strength as it registered appreciation versus the pound sterling. The pound's buying and selling rates slid from Monday's closing of Rs 155.00 and Rs 155.70 to Rs 154.75 and Rs 155.40 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 111.55 (buying) and Rs 111.65 (selling) against same last week's rate. It closed at Rs 111.55 (buying) and Rs 111.65 (selling).