Bulls ruled the money market as the rupee managed to keep its commanding position versus the dollar on Monday ahead of the federal budget 2014-15, dealers said. The rupee picked up five-paisa against the dollar for buying at Rs 98.63 and it also rose by four-paisa for selling at Rs 98.66, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also gained 10-paisa in relation to the dollar for buying at Rs 99.60 and it rose by 15-paisa for selling at Rs 99.75, dealers said. The rupee picked up 50-paisa against the euro for buying and selling at Rs 135.50 and Rs 135.75 respectively, they said.
In the first Asian trade, the dollar edged up as the yen started the week on the back foot against its major counterparts, though pressure remained on the euro as the market braced for further stimulus measures from the European Central Bank this week. Short-term investors increased short positioning on the euro to 16,633 contracts from 9,220 a week earlier, according to data for the week ended May 27 released by the Commodity Futures Trading Commission on Friday.
The dollars was trading against the Indian rupee at Rs 59.16, the greenback was at 3.2250 in terms of the Malaysian ringgit and the US currency was available at 6.247 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 77.63-77.63 (77.63-77.63). Call Money Rates: 05.50-07.25 percent (previous 05.40-07.25 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
RUPEE IN LAHORE: The Pak rupee remained strong and gained five-paisa against the greenback on the local currency market on Monday.
According to the currency dealers, the dollar resumed trading at its last week closing of Rs 99.70 and Rs 99.95 as its buying and selling rates, respectively. Following marginal fall in dollar’s demand, its rate was slide down to Rs 99.65 and Rs 99.90 on buying and selling side, respectively, the dealers said.
However, the rupee-pound sterling parity stayed unchanged amid low trading activity. The pound was purchased and sold at its last Saturday closing of Rs 167.00 and Rs 167.25, respectively, they added.
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.