THE RUPEE: bears dominate

Bears dominated the money market on Monday as the rupee failed to sustain it’s week-end levels against the dollar, dealers said. The rupee fell sharply versus the dollar losing 21-paisa for buying and selling at Rs 98.53 and Rs 98.56 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee shed five-paisa in relation to the dollar for buying and selling at Rs 99.60 and Rs 99.80 respectively. While, it maintained its rates in terms of euro for buying and selling at Rs 134.25 and Rs 134.50, they said.

In the first Asian trade, the dollar dipped versus the yen on Monday, taking a cue from weaker Tokyo equities, although potentially decisive events such as the Federal Reserve meeting midweek limited movements. The dollar dipped 0.2 percent to 101.84 yen, moving towards the bottom of its relatively tight 102.80-101.60 yen range seen so far this month. The dollar was trading against the Indian rupee at Rs 59.97, the greenback was available at 3.2220 in terms of Malaysian ringgit and the US currency was at 6.214 in terms of the Chinese yuan.

Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.

RUPEE IN LAHORE: The Pak rupee showed strength and gained 10-paisa against the US dollar on the local currency market on Monday.

According to the currency dealers, the dollar was opened on last week closing of Rs 99.60 and Rs 99.85 as its buying and selling rate, respectively. Because of lacking buyers’ interest, the dollar’s rate was ended lower at Rs 99.50 and Rs 99.75 on buying and selling counter, respectively.

However, the national currency remained weak, as it was depreciated against the pound sterling. The pound’s buying and selling rates were improved from Saturday closing of Rs 168.10 and Rs 168.35 to Rs 168.60 and Rs 168.85, 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.

Recorder Report