The rupee commenced the week on mixed note against the dollar on the currency market on Monday in the process of trading, dealers said. The rupee depreciated by 12-paisa in relation to the dollar for buying at Rs 98.84 and it also lost 11-paisa for selling at Rs 98.86, dealers said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, picked up 35-paisa versus the dollar for buying and selling at Rs 99.30 and Rs 99.40, dealers said. It also extended gains, rising by 25-paisa in relation to the euro for buying and selling at Rs 137.00 and Rs 137.25, they said.
In the first Asian trade, the yen hit a two-week high against the dollar as risk appetite was depressed by a survey showing China’s manufacturing activity contracted for a fourth straight month, putting the Australian dollar on the skids.
The US dollar had already been falling against the yen, after staging a reversal late last week that saw the greenback erase all of its gains sparked by a strong US payrolls report. The dollar was trading against the Indian rupee at Rs 60.06, the greenback was at 3.2560 in terms of the Malaysian ringgit and the US currency was available at 6.2464 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday: 77.65-77.65 (77.65-77.65). Call Money Rates: 05.50-07.50 percent (previous 05.50-07.50 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
RUPEE IN LAHORE: The Pak rupee remained strong, as it was marginally improved by five-paisa against the US dollar on the local currency market on Monday.
According to the currency dealers, the dollar was opened on a depressed note and could not maintain its position because of lacking buyers’ interest. At close of trading, the dollar was ended at Rs 99.50 and Rs 99.75 against Rs 99.55 and Rs 99.80 of last Saturday, respectively.
However, the rupee-pound sterling parity remained unchanged amid low trading activity. The pound was traded at its previous week closing of Rs 167.10 and Rs 167.35 on buying and selling counter, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 98.50 (buying) and Rs 98.60 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 98.50 (buying) and Rs 98.60 (selling).
Pound Sterling opened at Rs 165 (buying) and Rs 165.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.