Rising demand for dollar pushed the rupee to give up week-end’s rally on the money market on Monday in the process of trading, dealers said. The rupee dropped by seven-paisa against the dollar for buying at Rs 101.57 and the national currency shed four-paisa for selling at Rs 101.59, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: In sympathy with the interbank market trend, the rupee also fell by 10-paisa in terms of the dollar for buying and selling at Rs 102.40 and Rs 102.60 respectively, they said.
The rupee, however, gained 65-paisa versus the euro for buying and selling at Rs 109.75 and Rs 110.00 respectively, they said.
In the first Asian trade, the dollar got off to a sleepy start, in contrast to a more sprightly performance by its Australian and New Zealand peers in the wake of China’s latest stimulus injection. The People’s Bank of China (PBOC) on Sunday cut the amount of cash that banks must hold as reserves (RRR) in the latest attempt to help spur bank lending and combat slowing growth. The Aussie dollar briefly touched a near one-month high of $0.7844, rising from around $0.7785 late in New York on Friday. It has since stepped back to $0.7807.
The dollar was trading against the Indian rupee at Rs 62.55, the greenback was available at 3.6200 versus the Malaysian ringgit and the US currency was at 6.2029 against 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: 07.00-8.00 percent (Previous 06.80-08.00 percent).
Open Bid Rs.102.40
Open Offer Rs.102.60
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
Bid Rate Rs.101.57
Offer Rate Rs.101.59
RUPEE IN LAHORE: The rupee was weak losing 10-paisa against the greenback on the local currency market on Monday.
The dollar resumed trading amid a positive sign recording gains following fresh buying. At close, the dollar ended higher at Rs 102.60 and Rs 102.85 as its buying and selling rate against Rs 102.50 and Rs 102.75 of last Saturday. The rupee too remained under pressure and depreciated against the pound sterling that was traded at Rs 152.70 and Rs 152.95 on buying and selling side compared with last week closing of Rs 152.60 and Rs 152.85.
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).