A downward trend was seen on the money market on Monday as the rupee depreciated against the dollar on strong demand in process of business, they said. The rupee dropped by seven paisa versus the dollar for buying at Rs 102.04 and it also shed 10 paisa for selling at Rs 102.08, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also fell by 25 paisa in relation to the dollar for buying at Rs 103.35 and it depreciated by 20 paisa for selling at Rs 103.55, they said. The national currency, however, gained versus the euro, picking uo 50 paisa for buying and selling at Rs 113.50 and Rs 114.50, they added.
In the first Asian trade, he dollar marched to a two-month high versus the yen on Monday and carved out fresh ground against other major currencies after stronger-than-expected underlying US inflation supported the Federal Reserve’s case for a rate hike later this year.
The US currency traded near a two-month high of 121.78 yen after jumping from a low of 120.64 on Friday, helped by a rise in US Treasury yields triggered by the CPI data. The dollar was trading against the Indian rupee at 63.62, the greenback was at 3.6075 in terms of the Malaysian ringgit and the US currency was at 6.2012 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: 05.25-7.00 percent (Previous 05.25-07.00 percent).
Open Bid Rs 103.35
Open Offer Rs 103.55
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
Bid Rate Rs 102.04
Offer Rate Rs 102.08
RUPEE IN LAHORE: The rupee declined against the major currencies including the dollar and the British pound on the local currency market on Monday.
The dollar witnessed fresh demand that pushed its rate up while the rupee lost 20 paisas against the dollar for buying and selling at Rs 103.50 and Rs 103.75 against Rs 103.30 and Rs 103.55 of last Saturday.
The rupee declined against the pound sterling that was traded at Rs 159.50 and Rs 159.75 on buying and selling counter compared with the last week closing of Rs 159.00 and Rs 159.25.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at 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).