Hike in dollar’s demand on Tuesday in the currency exchange market against the national currency. As demand is there due to arrival of Ramdan Ul Mubark therefore many people would prefer to perform Umrah so dollar’s demand would be there. The US currency kicked off new day’s trading at Rs.85.75, due to high demand was changing hands at Rs.85.85 at close of markets on Tuesday. Thus, rupee lost 0.10 paisas versus dollar in the dealings.  On the global desk, the US dollar was trading on weaker note versus the major counter parts on Tuesday by shedding 0.8%  against the Yen and 0.4% versus Pound and Euro. Oil extended gains and was trading up by 1.3% to settle near $82.40-per barrel. Economic reports from US depicted weaker trend as market pundits were expecting otherwise.

 

0.10 paisa increase was witnessed in the price of Pound Sterling in the forex rate market today. Pound Sterling opened trading at Rs.133.80, posted more gains and was changing hands at Rs.133.90 at close of markets. Thus, rupee shed another 0.10 paisas against the cable.

The 16-nation euro depicted positive trend in forex rates market against rupee on Tuesday. Moreover, the single currency has continued to post gains versus rupee in the kerb.  The Eurozone’s common currency started off new day’s trading at Rs.111.30, continued to gain and was trading at Rs.111.50 at close of markets on Tuesday. Thus, rupee lost 0.20 more  paisas versus euro.

Dirham posted heavy gains versus rupee amid rise in UAE currency’s demand in the kerb today. The Dirham kicked off new day’s trading at Rs.23.26, posted hefty 0.10 paisas and was trading at Rs.23.36 at close of markets. Thus, rupee shed 0.10 paisas versus Dirham in the dealings.