THE RUPEE: firm trend

The rupee fluctuated slightly against the dollar on the money market on Monday in the process of trading, dealers said. The rupee inched up by one-paisa versus the dollar for buying at Rs 102.76 and it also gained two-paisa for selling at Rs 102.78, they said.

INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee picked up five-paisa in terms of the greenback for buying and selling at Rs 102.55 and Rs 102.75 respectively, however it depreciated by 25-paisa in relation to the euro for buying and selling at Rs 131.75 and Rs 132.00 respectively, they said.

In the first Asian trade, the dollar hovered near a two-year high against a basket of currencies on Monday, underpinned by expectations the US Federal Reserve will start its rate-tightening cycle sooner than expected. The dollar index, a gauge of the greenback’s strength against a basket of major currencies, was at 84.607, within reach of a two-year high of 84.797 hit Friday.

The greenback was at Rs 60.78 in terms of the Indian rupee, the US currency was available at 3.2350 versus the Malaysian ringgit and the dollar was at 6.1386 against the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 77.40-77.40 (previous 77.40-77.40). 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 Pak rupee recovered some of its earlier loss 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 102.70 and Rs 102.95 as its buying and selling rates, respectively. In the absence of buyers’ interest, the dollar could not sustain and was declined to Rs 102.65 and Rs 102.90 on buying and selling side, respectively, dealers said.

However, the rupee remained under pressure and was depreciated against the British pound. The pound was traded at Rs 167.50 and Rs 167.75 on buying and selling counter compared with last Saturday closing of Rs 167.00 and Rs 167.25, 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 101 (buying) and Rs 101.10 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101 (buying) and Rs 101.10 (selling) against. Pound Sterling opened at Rs 168 (buying) and Rs 168.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 168 (buying) and Rs 168.10 (selling).

Recorder Report