An easier trend prevailed on the money market on Monday, as the rupee drifted lower versus the dollar modestly in the process of trading, dealers said. The rupee tended lower against the dollar, losing six-paisa for buying and selling at Rs 101.81 and Rs 101.83 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also shed five-paisa in relation to the dollar for buying and selling at Rs 102.40 and Rs 102.60 respectively, however, it gained 50-paisa in terms of the euro for buying and selling at Rs 113.75 and Rs 114.00 respectively, they added.
Most emerging Asian currencies eased on Monday as China’s interest rate cut underscored expectations that regional peers may join easing to cope with a global economic slowdown.
Regional currencies came under further pressure as the US dollar broadly extended gains with the euro’s weakness ahead of key talks between Greece and euro-zone finance ministers on the country’s debt issues. The dollar was trading against the Indian rupee at Rs 63.78, the greenback was at 3.6020 in terms of the Malaysian ringgit and the US currency was at 6.2087 in relation to the Chinese yuan.
Open Bid Rs.102.40
Open Offer Rs.102.60
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
Bid Rate Rs.101.81
Offer Rate Rs.101.83
RUPEE IN LAHORE: The rupee is weakened when it lost 10-paisa against the dollar on the local currency market on Monday, though the latter healthily resumed trading and kept on rising following fresh buying.
At close of trading, the dollar then ended higher at Rs 102.55 and Rs 102.80 as its buying and selling rate against Rs 102.45 and Rs 102.70 of last Saturday. The rupee recovered and improved its worth against the pound sterling whose buying and selling rate declined from the last week closing of Rs 157.50 and Rs 157.75 to Rs 157.25 and Rs 157.50.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Saturday.
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).