Firmness prevailed on the money market on Monday as the rupee managed to sustain its week-end levels versus the dollar in the process of trading, dealers said. The rupee moved up by one-paisa versus the dollar for buying at Rs 98.83, while it showed no change for selling at Rs 98.86, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee rose against the dollar, gaining 10-paisa for buying at Rs 99.55 and it also recovered five-paisa for selling and Rs 99.75. The rupee appreciated by 25-paisa in terms of the euro for buying and selling at Rs 135.50 and Rs 135.75, they said.
In the first Asian trade, the euro touched a fresh three-month low against the dollar as investors awaited comments from European Central Bank chief Mario Draghi and digested weekend elections in which critics of the European Union more than doubled their presence.
Liquidity was likely to be thin during the rest of the global session, with UK markets shut for the Spring bank holiday and US markets closed for Memorial Day. The dollar was available at Rs 58.52 versus the Indian rupee, the greenback was at 3.2090 at in terms of the Malaysian ringgit and the US currency was at 6.237 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday: 77.63-77.63 (77.63-77.63). Call Money Rates: 05.75-07.25 percent (previous 05.75-07.25 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
RUPEE IN LAHORE: The Pak rupee registered slight improvement and gained five-paisa against the US dollar 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. In the absence of buyers’ interest, the dollar could not sustain and was declined to Rs 99.65 and Rs 99.90 on buying and selling counter, respectively, the dealers said.
Similarly, the rupee remained strong and was appreciated against the pound sterling. The pound was purchased and sold at Rs 167.50 and Rs 167.75 compared with Rs 167.75 and Rs 168.00 of Saturday, 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.