20000119ISLAMABAD

The dollar showed an increase of five paisa against the rupee in the money markets of twin cities on Tuesday.

The markets opened with a better greenback at Rs 53.90 as compared to Monday's rate of Rs 53.85. The rupee did not observe prominent change by the end of the day and the dollar was sold at Rs 54.

Dealers were of the view that the market opened on a healthy note due to the active participation of genuine buyers and sellers in the morning session. The overall turnover further expanded in the second session and the market finally closed on a stable note.

They said that a number of buyers took fresh position in ever-favourite greenback during the day. However, other star currencies witnessed moderate buying and selling in both morning-evening sessions.

Pound sterling started the day at Rs 88.20 as compared to overnight value of Rs 88.10. British currency moved in a tight band with the same rate by the time traders called it a day and was sold at Rs 88.50.

Japanese yen resumed trading at Re 0.511 as compared with last rate of Re 0.525. Yen remained lower in the local kerb and was sold at Re 0.512 as compared to overnight value of Re 0.527.

German mark continued to portray a stable picture against the local currency as it opened at Rs 27.90. The overall volume of mark contracted in the second session and was sold at Rs 28.10.

UAE dirham opened at Rs 14.70 as compared with previous value of Rs 14.69. It remained active throughout the day and sellers offered four paisa more at Rs 14.74. Saudi currency was bought and sold at Rs 14.37 and Rs 14.40, respectively.

Rawalpindi currency exchange establishments opened on a better note with expansion in overall turnover in the first session. The sentiment of the market remained healthy by the end of the day and city market closed with positive sentiment, dealers said.

The dollar was bought and sold at Rs 53.88 and Rs 53.93 respectively. However, pound opened at Rs 88.35 and sellers were offering 35 paisa at Rs 88.70.