INTER-BANK MARKET RATES: In the second Asian trade, he dollar hovered near 2-week highs against its peers on Tuesday as a slowdown in China's economy to 28-year lows revived investor concerns over global growth and supported safe-haven currencies.
Overnight, the International Monetary Fund (IMF) cut its 2019 and 2020 global growth forecasts, citing a bigger-than-expected slowdown in China and the Eurozone, and said failure to resolve trade tensions could further destabilise a slowing global economy.
Those fears were brought to the fore on Monday when data showed the Chinese economy grew at its slowest pace since 1990 last year in an ominous sign for 2019. Cooling growth in the world's second largest economy has already put a dent on profits for firms ranging from Apple to big carmakers.
The dollar index, which measures its strength against a group of six major currencies, was steady at 96.33, holding near a 2-week high of 96.43 hit on Monday.
The yen, another safe-haven currency, was steady against the dollar, fetching 109.64 in early trade.
The dollar was trading against the Indian rupee at Rs 71.310, the greenback was at 4.130 in terms of the Malaysian ringgit and the US currency was at 6.803 versus the Chinese.
OPEN MARKET RATES: The rupee almost held the overnight levels in terms of the dollar for buying at Rs 139.00 and it, however, shed 10 paisas for selling at Rs 139.50, they said. While, the rupee was available against the euro for buying and selling at Rs 157.50 and Rs 159.00 respectively, they said.
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Open Bid Rs.139.00
Open Offer Rs.139.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs.138.92
Offer Rate Rs.138.94
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RUPEE IN LAHORE: The Pak rupee depreciated its worth on buying side while it stayed firmed on selling side in relation to the greenback in the local currency market on Tuesday.
According to currency dealers, the greenback gained 50 paisas and ended for buying at Rs 139.20 against the overnight closing rate of Rs 138.70 whereas it remained unchanged for selling at Rs 139.80.
Furthermore, the local currency registered reduction in process of trading against the pound sterling. The pound's buying and selling rated improved from Monday's closing of Rs 178.20 and Rs 179.50 to Rs 178.50 and Rs 179.60 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed a recovery of 10 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 139(buying) and Rs 139.10(selling) against last rate of Rs 139.10(buying) and Rs 139.20(selling). It closed at Rs 139(buying) and Rs 139.10(selling).
The buying and selling rates of one tola of gold was Rs 67,800(selling) and Rs 67,5000(buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.