The rupee failed to sustain its week-end’s gains against the dollar on the currency market on Monday, dealers said. The rupee shed one-paisa versus the dollar for buying at Rs 98.88 and it also fell by two-paisa for selling at Rs 98.90, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee lost 20-paisa in terms of the dollar for buying and selling at Rs 98.70 and Rs 98.90 respectively, while it did not show any change versus the euro for buying and selling at Rs 132.00 and Rs 132.25 respectively, they said.
In the first Asian trade, the US dollar got off to a quiet start, having suffered its biggest one-day fall in nearly a month after a batch of economic data led markets to temper expectations for the start of the Federal Reserve’s rate-tightening cycle.
Data released on Friday showed US jobs growth slowed in July, the unemployment rate unexpectedly edged up and inflation was restrained, a mix of figures that should give the Fed room to keep interest rates low for a while yet.
The dollar was trading against the Indian rupee at Rs 60.97, the greenback was at 3.1995 versus the Malaysian ringgit and US currency was available at 6.1772 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 7.50-77.50 (previous 77.50-77.50). Call Money Rates: 06.50-08.25 percent (previous 06.50-08.25 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
RUPEE IN LAHORE: The greenback appreciated its worth by five-paisa on buying side at Rs 98.70 while gained 20-paisa on selling side at Rs 99.20 in relation to Pak rupee at the currency markets of Lahore on Monday.
According to the currency dealers, the greenback opened at Rs 98.50 for buying and Rs 99.00 for selling against Rs 98.65 and Rs 98.90 of Saturday. In the wake of fresh buying activity, the greenback appreciated its worth and was closed at Rs 98.70 and Rs 99.20 on buying and selling counters, respectively.
On the other hand, the British pound depreciated its worth against the local currency. The British currency was purchased and sold at Rs 166.00 and Rs 167.00 as against Rs 166.50 and Rs 167.45 on Saturday.
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 for buying and Rs 98.60 for selling against same last rate. It did not observe further change in the second session and closed at Rs 98.50 for buying and Rs 98.60 for selling. Pound Sterling opened at Rs 165 for buying and Rs 165.50 for selling against same last rate. It closed at the same rate without further change by the end of evening session.