The rupee strengthened against the dollar due to falling demand for the greenback on the local currency market on Monday, dealers said. The rupee posted fresh gains of 55-paisa versus the dollar for buying and selling at Rs 101.75 and Rs 101.80 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also picked up 50-paisa in relation to the dollar for buying and selling at Rs 101.20 and Rs 101.40 respectively. It also gained 25-paisa in terms of the euro for buying and selling at Rs 126.00 and Rs 126.25 respectively, they said.
In the first Asian trade, the dollar edged lower as US Treasury yields sagged, after Friday’s US jobs data fell short of expectations and prompted some investors to take profits on extremely long dollar positions. The dollar index slipped about 0.3 percent to 87.368, following a 0.4 percent fall on Friday when it retreated from 88.190 – a high not seen since June 2010.
The dollar was at Rs 61.48 versus the Indian rupee, the greenback was at 3.3280 in terms of the Malaysian ringgit and the US currency was trading at 6.1141 in relation to the Malaysian ringgit. Inter bank buy/sell rates for the taka against the dollar on Monday: 77.40-77.44 (previous 77.40-77.4125). Call Money Rates: 06.75-08.75 percent (Previous 05.75-08.75 percent).
Open Bid Rs.101.20
Open Offer Rs.101.40
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
Bid Rate Rs.101.75
Offer Rate Rs.101.80
RUPEE IN LAHORE: The national currency showed strength and was appreciated against the major currencies like US dollar and British pound on the local currency market on Monday.
According to the currency dealers, the dollar was opened on a depressed note and remained under selling pressure. Finally, the dollar was closed at Rs 101.75 and Rs 102.00 on buying and selling side against Rs 102.05 and Rs 102.30 of last Saturday, respectively.
Likewise, the rupee was improved against the pound sterling that was traded at Rs 160.75 and Rs 161.00 on buying and selling counter, compared with last week closing of Rs 161.75 and Rs 162.00, respectively, the dealers said.
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 103 (buying) and Rs 103.10 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 103 (buying) and Rs 103.10 (selling). Pound Sterling opened at Rs 164 (buying) and Rs 164.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 164 (buying) and Rs 164.10 (selling).