Divergent trend was seen on the money market on Monday as the rupee played both side in the process of trading, dealers said. The rupee shed four paisa against the dollar for buying and selling at Rs 98.78 and Rs 98.80, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: While, the rupee gained four paisa versus the dollar for buying and selling at Rs 98.80 and Rs 99.00, they said. The rupee, however, fell by 25 paisa in terms of the euro for buying and selling at Rs 134.50 and Rs 134.75, they said.
In the first Asian trade, the dollar edged up slightly against its Japanese counterpart though major currency pairs largely stuck close to recent ranges, as investors awaited events this week including Federal Reserve Chair Janet Yellen’s congressional testimony for cues on the outlook for US monetary policy.
A batch of Chinese economic data on Wednesday and earnings results from major global banks this week kept investors wary, and gave them little incentive to take new positions.
The dollar was trading against the Indian rupee at Rs 59.99, the greenback was at 3.1770 in terms of the Malaysian ringgit and the US currency was available at 6.207 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday. 77.60-77.60 (previous 77.60-77.61). Call Money Rates: 05.50-07.00 percent (previous 05.50-07.00 percent.
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
RUPEE IN LAHORE: The Pak rupee appreciated in relation to 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 sustain because of lacking buying interest. At close of trading, the dollar was ended lower at Rs 98.90 and Rs 99.15 as its buying and selling rates against Rs 99.00 and Rs 99.25 of last Saturday, respectively, the dealers said.
Similarly, the rupee remained storing and was improved against the pound sterling. The pound’s buying and selling rates were declined from last week closing of Rs 169.25 and Rs 169.50 to Rs 169.00 and Rs 169.25, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at 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 the 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 the same last rate. It closed at the same rate without further change by the end of evening session.