THE RUPEE: dollar suffers all-round fall

Wednesday, August 26, 2009

KARACHI: First session of Ramazan commenced on the positive note on Tuesday as the rupee managed to gain sharply against dollar on the interbank market due to easy supply of the US currency, money experts said. The rupee gave up overnight weakness in relation to dollar, rising 27 paisa for buying and selling at 82.78 and 82.83, they said.

During the second Asian session yen headed higher as share markets fell and investor interest in higher-yielding currencies ebbed, while currencies took in their stride news that Federal Reserve chief Ben Bernanke would be re-appointed. A US administration official said President Barack Obama would reappoint Bernanke for a second term as Fed chairman.

OPEN MARKET RATES: The rupee recovered 10 paisa in terms of the US currency, rising 10 paisa for buying and selling at 82.80 and 82.90, dealers said. The rupee also picked up 15 paisa in relation to the euro for buying and selling at Rs 117.55 and Rs 118.05, they said.

Open Buying Rs 82.80 Open

Selling Rs 82.90

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

Buying Rs.82.78

Selling Rs.82.83

(BRecorder)

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