Bears dominated on the money market on Monday as the rupee tended slightly lower versus the dollar in process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee shed-two paisa against the dollar for buying and selling at Rs 101.90 and Rs 101.92 respectively, they said.
OPEN MARKET RATES: The rupee also dropped by 20-paisa against the dollar for buying and selling at Rs 102.20 and Rs 102.40 respectively however, it gained 35-paisa against the euro for buying and selling at Rs 110.40 and Rs 110.65 respectively, they said.
In the first Asian trade, the dollar started trade pretty much where it closed in New York after the head of the US central bank assured investors that the path back to ‘normal’ interest rates will only occur at a gradual pace.
The dollar fetched 119.24 yen versus 119.11 late in New York on Friday. It has fallen more than 2 percent from a near eight-year peak of 122.04 set early this month.
The euro was also little changed at $1.0889, having in the last two weeks pulled up from a 12-year trough of $1.0457.
The dollar was available against the Indian rupee at Rs 62.60, the greenback was at 3.7125 in terms of the Malaysian ringgit and the US currency was at 6.2128 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 07.50-8.00 percent (Previous 07.50-08.00 percent).
Open Bid Rs 102.20
Open Offer Rs 102.40
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
Bid Rate Rs 101.90
Offer Rate Rs 101.92
RUPEE IN LAHORE: The rupee stayed weak and marginally declined by five-paisa against the US dollar on the local currency market on Monday.
Currency dealers said the dollar resumed trading at its last week closing of Rs 102.15 and Rs 102.40 as its buying and selling rate, respectively. It witnessed a slight increase in its demand pushing its rate up to Rs 102.20 and Rs 102.45 on buying and selling side, respectively.
But the rupee stayed strong and improved its worth against the British pound whose buying and selling rates declined from the last Saturday closing of Rs 151.25 and Rs 151.50 to Rs 150.70 and Rs 151.30, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 101.75 (buying) and Rs 101.85 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 101.75 (buying) and Rs 101.85 (selling).
Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 155 (buying) and Rs 155.50 (selling).