Bears dominated the currency market on Monday as the rupee drifted lower against the dollar in the process of trading, they said. The rupee drifted lower slightly against the dollar for buying and selling at Rs 101.80 and Rs 101.82 respectively, dealers said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee shed 10-paisa versus the dollar for buying and selling at Rs 102.70 and Rs 102.90 respectively. It also dropped by 40-paisa in terms of the euro for buying and selling at Rs 115.80 and Rs 116.80, they said. In the firth Asian trade, the euro rose against the dollar on a glimmer of hope that Greece may avert a debt default after Athens offered new proposals to foreign creditors ahead of the emergency euro zone summit later in the day.
The common currency ticked up 0.3 percent to $1.1383, inching closer to a one-month high of $1.1440 hit on Thursday. But many investors remained cautious because it was not immediately clear how far the new proposals yielded to creditors’ demands for additional spending cuts and tax hikes, nor whether creditors can stomach the offer. The dollar was trading against the Indian rupee at Rs 63.51, the greenback was at 3.7230 versus the Malaysian ringgit and the US currency was at 6.209 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: 05.25-6.75 percent (Previous 05.25-06.75 percent).
Open Bid Rs 102.70
Open Offer Rs.102.90
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
Bid Rate Rs.101.80
Offer Rate Rs.101.82
RUPEE IN LAHORE: The rupee remained weak and depreciated against the dollar on the local currency market on Monday.
The dollar resumed trading on a healthy note and recorded gain following buyers’ interest and ended at Rs 102.60 and Rs 102.85 as its buying and selling rate against Rs 102.45 and Rs 102.80 of last Saturday. The rupee also remained under pressure and declined against the pound sterling whose buying and selling rates improved from the last week closing of Rs 161.10 and Rs 161.35 to Rs 161.75 and Rs 162.00.
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).