20000126ISLAMABAD

The rupee did not witnessed any change against the US dollar in the twin cities on Tuesday.

The buying and selling rates of dollar remained Rs 53.95 and Rs 54.05 respectively with no fluctuation in both the morning and evening sessions.

Money changers were of the view that the market stated the day on a moderate note following slight contraction in the overall volume of trading. The market continued to portray the same outlook in the second session and finally closed lower.

Only needy customers visited the local kerb in both the sessions as continuous rainy weather forced the buyers and sellers to book deals on telephones and mobiles, they said. The absence of major players and speculators also contracted the volume of ever-favourite greenback in the currency markets of Islamabad and Rawalpindi.

The overnight value of pound sterling remained the same as it opened at Rs 89.20 and was sold at Rs 89.40 by the end of the day. The pound did not observe any change throughout the day with moderate volume.

UAE dirham was bought at Rs 14.73 and was sold at Rs 14.75, Saudi currency started the day at Rs 14.39 and was sold at Rs 14.42.

German mark opened at Rs 27.75 and was sold at Rs 28.

Japanese yen was bought at Re 0.512 and was sold at Re 0.514.

The Rawalpindi money market moved in a tight band with contraction in trade volume, as city traders remained busy in buying and selling of star currencies like dollar, pound and dirham.

Both dollar and pound were bought and sold at the same rate of Islamabad.