A declining trend was seen on the money market on Monday as the rupee fell modestly against the dollar in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee lost 20-paisa versus the dollar for buying and selling at Rs 101.83 and Rs 101.86 respectively, they said.
OPEN MARKET RATES: The rupee dropped 15-paisa in relation to the dollar for buying and selling at Rs 102.60 and Rs 102.80 respectively, but it showed no change in terms of the euro for buying and selling at Rs 111.00 and Rs 111.25 respectively, they said.
In the first Asian trade, the dollar started the week on the defensive on Monday after more disappointing US economic data reinforced expectations the US Federal Reserve will not hike interest rates any time soon, while concerns about Greece’s debt talks pressured the euro.
The dollar was buying 118.93 yen, down about 0.1 percent on the day and well below last week’s high of 120.10 yen touched on Thursday, and back toward its April low of 118.525 plumbed one week ago.
The dollar was trading against the Indian rupee at Rs 63.62, the greenback was at 3.5600 in terms of the Malaysian ringgit and the US currency was available at 6.1985 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 06.75-8.00 percent (Previous 06.75-08.00 percent).
Open Bid Rs 102.60
Open Offer Rs 102.80
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
Bid Rate Rs 101.83
Offer Rate Rs 101.86
RUPEE IN LAHORE: As the rupee stayed unchanged on buying side (Rs 102.60), it gained five-paisa on selling side (Rs 102.85) against the greenback on the local currency market on Monday.
Currency dealers said the dollar resumed trading at its Saturday closing of Rs 102.60 and Rs 102.90 on buying and selling side. At close, the dollar stayed stagnant in its buying rate though it did decline to Rs 102.85 on selling side, but then so did the rupee that improved on selling side against the sterling pound which was bought and sold at Rs 154.70 and Rs 155.25 compared with last week closing of Rs 154.70 and Rs 155.25.
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 101.75 (buying) and Rs 101.85 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 101.75 (buying) and Rs 101.85 (selling).
Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 155 (buying) and Rs 155.50 (selling).