20000216ISLAMABAD

The overnight value of rupee remained unchanged against the dollar in the currency exchange establishments of twin cites on Tuesday.

The market started the day with a moderate greenback at Rs. 54.20 as compared to same last value. The buying and selling rates of dollar remained the same by the end of the day and was sold at Rs. 54.25.

Dealers stated that market resumed trading on a comparatively better note following firm trend in buying and selling of greenback in the first session. The trade volume contracted in the evening sessions and the market managed to close on a moderate note.

They said that other star currencies like pound, dirham and riyal moved in a narrow band with thin turnover.

Slight variation in demand and supply factor affected the value of local currency in the kerb. However, rupee would manage to stay around present levels in coming sessions.

Pound sterling opened at Rs. 86.50 as compared to Monday's rate of Rs. 86.60. British currency moved within the range of Rs. 86.50 and Rs. 86.60 and was sold at Rs. 86.90.

UAE dirham was bought and sold at Rs. 14.79 and Rs. 14.83 respectively, Saudi riyal opened at Rs. 14.45 and was sold at Rs. 14.48.

German mark shed 20 paisa in its value as it opened at Rs. 27.15 as compared to previous rate of Rs. 27.35. Mark moved in a tight band and was sold at Rs. 27.50.

Rawalpindi market behaved divergently as it opened on a sluggish note and remained in minus territory throughout the day. The overall turnover remained thin with lacklustre activity in trading of dollar, pound and other currencies.

Dollar was bought and sold at Rs. 54.22 and Rs. 54.27 in the City market, while pound was traded between Rs. 86.40 and Rs. 86.80 during the day, city dealers said.