20000419ISLAMABAD

The rupee showed an improvement of two paisa against the dollar in the kerb markets of twin cities on Tuesday.

The markets started the day with a comparatively weaker dollar at Rs 54.22 as compared to overnight value of Rs 54.24. It was sold at Rs 54.27 as compared to Monday's value of Rs 54.28.

The market of Islamabad opened on a healthy note due to the participation of profit seeker and genuine buyers in the first session. Both buyers and sellers visited the local kerb with better turnover throughout the morning spell. The trade volume further expanded in the second session and market finally closed on a firm note.

The dealers said leading traders of money markets appeared to be back in game as recent bearish sessions at the stock exchanges forced the players to invest in profitable currencies to book available margins.

No shortage of the dollar was reported in the open currency markets of Islamabad and Rawalpindi as fresh supply of the dollar and participation of sellers balanced the demand and supply factor, they added.

Following fluctuation in the international market, British unit resumed trading at Rs 86.10 as compared to last rate of Rs 86.40. The pound moved between Rs 86.10 and Rs 86.20 and was sold at Rs 86.50.

UAE dirham was bought and sold at Rs 14.80 and Rs 14.82 respectively. It opened at Rs 14.46 (buying) and sellers were ready to square their positions at Rs 14.48.

Japanese yen was traded between Re 0. 52 and was sold at Re 0.522 as the former rate was quoted on the behalf of buyers and later was offered by the selleRs

German mark opened at Rs 26.40 as compared to overnight value of Rs 26.70. The mark was sold at Rs 26.80 with moderate volume during the day.

Rawalpindi kerb markets behaved divergently and remained dull throughout the day. The market showed lackluster activity and closed in minus zone by the end of the day.

The dollar and pound were bought and sold at the same rate of Islamabad, city dealers added.