THE RUPEE: modest fall

Modest decline was seen in value of the rupee against the dollar on the local money market on Monday, dealers said. The rupee shed-five paisa in relation to the dollar for buying and selling at Rs 101.88 and Rs 101.92 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee did not budge any side against the dollar for buying and selling at Rs 101.80 and Rs 102.00 respectively, while it shed 35-paisa versus the euro, for buying and selling at Rs 114.10 and Rs 114.35 respectively, they said.

In the first Asian trade, the dollar hit an 11-year high against a basket of major currencies, with the greenback gaining a broad lift after an interest rate cut in China dented the Chinese yuan and emerging Asian currencies. The dollar rose to as high as 95.505 against a basket of major currencies, its highest level since September 2003. The dollar index last traded at 95.417.

The dollar was trading was trading against the Indian rupee at Rs 61.82, the US currency was at 3.6265 versus the Malaysian ringgit and the greenback was at 6.273 in relation to the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday: 77.80-77.80 (previous 77.80-77.80). Call Money Rates: 07.25-8.00 percent (Previous 07.00-08.00 percent).

Open Bid       Rs 101.80
Open Offer     Rs 102.00

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

Bid Rate       Rs 101.88
Offer Rate     Rs 101.92

RUPEE IN LAHORE: The rupee recovered against the major currencies like US dollar and British pound on the local currency market on Monday.

According to the currency dealers, the dollar resumed trading on a negative sign and could not sustain due to lacking buyers’ interest. At close of trading, the dollar was ended lower at Rs 101.85 and Rs 102.10 against Rs 101.90 and Rs 102.30 of last Saturday, respectively, the dealers said.

Similarly, the rupee showed stability on buying side while it registered gain on selling side against the pound sterling. The pound’s buying rate stayed unchanged at Rs 156.50 whereas its selling rate was declined from Rs 157.00 to Rs 156.85, they added.

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).

Recorder Report