The dollar further drifted lower against the rupee on the currency market on Monday in the process of trading, dealers said. In the early session, the dollar hit the low at Rs 97.95 due to easy supply, they said, adding it may trade in a narrow band in the near future.
INTERBANK MARKET RATES: The rupee rose by 14-paisa in relation to the dollar for buying at Rs 98.00 and it also gained 13-paisa for selling at Rs 98.05, they said.
OPEN MARKET RATES: The rupee retained its overnight level versus the dollar for buying and selling at Rs 99.90 and Rs 100.10 respectively, while it inched up by five-paisa in terms of the euro for buying at Rs 139.20, the single European currency, however, shed 20 psisa for selling at Rs 139.70, they said.
In the first Asian trade, the dollar held on to last week’s gains on Monday though it lacked a fresh catalyst to extend them while the Australian dollar dipped after a soft Chinese manufacturing data. The dollar index stood at 80.143, little changed from late New York levels on Friday, but still not far off a three-week peak of 80.354 set on Thursday.
The dollar was trading against the Indian rupee at Rs 60.70, the greenback was at 3.3010 versus the Malaysian ringgit and the US currency was at 6.2015 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday: 77.67-77.68 (77.6800-77.6825). Call Money Rates: 06.00-08.00 percent (previous 05.25-08.00 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
RUPEE IN LAHORE: The Pak rupee failed to maintain upward move and lost 55-paisa on buying side at Rs 100.80 and 50-paisa on selling side at Rs 101.50 in relation to the greenback on the local currency market on Monday.
According to the currency dealers, the dollar resumed trading on a healthy sign and registered gain following fresh demand. At close, the dollar was ended higher at Rs 100.80 and Rs 101.50 as its buying and selling rates against Rs 100.25 and Rs 101.00 of last Saturday, respectively.
Likewise, the rupee remained under pressure and was depreciated against the British pound. The pound’s buying and selling rates were improved from last week closing of Rs 166.00 and Rs 167.00 to Rs 166.50 and Rs 167.50, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 100 for buying and Rs 100.10 for selling against same last rate. It did not observe further change in the second session and closed at Rs 100 for buying and Rs 100.10 for selling.
Pound Sterling opened at Rs 165 for buying and Rs 165.50 for selling against same last rate. It closed at the same rate without further change by the end of evening session.