THE RUPEE: slight fall

The rupee fell modestly against the dollar on the money market on Monday in the process of trading, dealers said. The rupee drifted lower in relation to the dollar, shedding three-paisa for buying and selling at Rs 101.75 and Rs 101.77 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee held the weekend levels versus the dollar for buying and selling at Rs 102.50 and Rs 102.70 respectively, but it picked up 45-paisa against the euro for buying and selling at Rs 113.75 and Rs 114.00 respectively, they said.

In the first Asian trade, the dollar clung onto tenuous gains, having staged a modest rebound late last week as sellers set their sights on sterling after disappointing UK data. Already on tenterhooks ahead of the May 7 general election, the pound was further stung by a survey showing British manufacturing growth slowed sharply in April.

The dollar was trading against the Indian rupee at Rs 63.42, the greenback was at 3.5600 versus the Malaysian ringgit and the US currency was at 6.2083 in terms of 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: 06.50-8.00 percent (Previous 06.50-08.00 percent).

Open Bid       Rs.102.50
Open Offer     Rs.102.70

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

Bid Rate       Rs.101.75
Offer Rate     Rs.101.77

RUPEE IN LAHORE: The rupee remained weak and lost five-paisa against the US dollar on the local currency market on Monday.

According to currency dealers, the dollar resumed trading at its previous closing of Rs 102.60 and Rs 102.85 as its buying and selling rate, respectively. Because of slight increase in the dollar’s demand, its rate moved up to Rs 102.65 and Rs 102.90 on buying and selling side, respectively.

However, the rupee showed strength and appreciated its worth against the pound sterling. The pound was purchased and sold at Rs 154.50 and Rs 154.75 compared with the last week closing of Rs 155.25 and Rs 155.50, respectively, the dealers added.

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).

Recorder Report