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ISLAMABAD

The rupee was down by 5 paisa against the dollar in the money markets of Islamabad and Rawalpindi on Tuesday.

The markets of the twin cities started the day with a weaker greenback at Rs 54.15 as compared to Monday's rate of Rs 54.10. The local currency did not observe significant change by the end of the day and the dollar was sold at Rs 54.22.

Currency dealers said that participation of genuine buyers expanded the trade volume in the morning session. The market remained in plus zone throughout the first session with active trading in dollar, dirham, riyal and European currencies. The overall turnover slightly contracted in the evening session and the market finally closed on a moderate note.

Margin hunters booked fresh deals in hot favourite currencies while genuine buyers outnumbered sellers during the day, they added.

Pound sterling shed 20 paisa as it resumed trading at Rs 86.40 as compared to Monday's rate of Rs 86.60. British currency moved within the range of Rs 86.40 and Rs 86.50 and was sold at Rs 86.70.

UAE dirham was traded between Rs 14.79 and Rs 14.82 throughout the day as the former rate was quoted on behalf of buyers while the later was offered by the sellers. Saudi riyal was bought and sold at Rs 14.45 and Rs 14.48.

German mark resumed trading at Rs 26.85 as compared to overnight value of Rs 27. The mark remained active in both morning-evening sessions and was sold at Rs 27.