THE RUPEE: slight fall

The rupee drifted slightly lower against the dollar on the money market on Monday in the process of trading, dealers said.

INTER-BANK MARKET RATES: The rupee slid two-paisa versus the dollar for buying and selling at Rs 101.83 and Rs 101.84 respectively, they said.

OPEN MARKET RATES: The rupee shed 10-paisa in terms of the dollar for buying at Rs 102.90 and held the overnight level for selling at Rs 103.00 respectively, while it lost 10-paisa in relation to the euro for buying and selling at Rs 112.35 and Rs 113.35 respectively, they said.

In the first Asian trade, the dollar stayed close to a nearly four-month high against a basket of currencies, after solid US jobs data backed expectations that the US Federal Reserve could raise interest rates as early as September.

“It looks as if we’re now really on the verge” of a US rate increase, said Sue Trinh, senior currency strategist at RBC Capital Markets in Hong Kong. But risk appetite in Asia remained in check after weekend data raised concerns about a slowing Chinese economy.

The dollar was trading against the Indian rupee at Rs 63.76, the greenback was at 3.9250 in terms of the Malaysian ringgit and the US currency was at 6.209 in relation to 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: 05.25-6.75 percent (Previous 05.25-06.75 percent.

Open Bid       Rs 102.90
Open Offer     Rs 103.00

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

Bid Rate       Rs 101.83
Offer Rate     Rs 101.84

RUPEE IN LAHORE: The rupee managed to recover by gaining five paisas on the local currency market on Monday.

The dollar resumed trading at its last week closing of Rs 102.85 and Rs 103.30 as its buying and selling rate, respectively. In the absence of buyers’ interest, the dollar could hardly sustain and declined to Rs 102.80 and Rs 103.25 on the buying and selling side.

The rupee also showed strength on the buying side but was static on the selling side against the pound sterling which was traded at Rs 158.60 and Rs 159.30 on the buying and selling counter compared with the last Saturday closing of Rs 158.70 and Rs 159.30, respectively.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Monday.

The dollar opened at Rs 102 (buying) and Rs 102.20 (selling) against same last rate. The local currency did not observe further change in the second session and closed at Rs 102 (buying) and Rs 102.20 (selling).

Pound Sterling opened at Rs 157 (buying) and Rs 157.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 157 (buying) and Rs 157.50 (selling).

Recorder Report