THE RUPEE: mixed patterns

-File photo

WEB DESK: Divergent trend was witnessed on the local money market on Monday in the process of trading, dealers said. The rupee failed to sustain week-end gains against the dollar, losing 16 paisas for buying at Rs 104.69 and it also lost eight paisas for selling at and Rs 104.73, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, picked up 10 paisas versus the greenback for buying and selling at Rs 105.80 and Rs 106.00, they said. The rupee also gained 60 paisas in terms of the euro for buying and selling at Rs 118.00 and Rs 119.00, they added.

In the first Asian trade, the dollar rose against the yen on Monday as Japan’s leader criticised excessively volatile currency markets, and most regional equity markets gained, curbing demand for save-haven yen.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 1.8 percent following a loss of almost 4 percent last week, while Japan’s Nikkei stock index was up 5.5 percent.

The dollar was trading against the Indian rupee at Rs 68.06, the US currency was at 4.1270 in terms of the Malaysian ringgit and the greenback was at 6.4915 in relation to the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday. 78.50-78.50 (previous 78.50-78.50).

Open Bid       Rs.105.80
Open Offer     Rs.106.00

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

Bid Rate       Rs.104.69
Offer Rate     Rs.104.73

RUPEE IN LAHORE: The Pak rupee remained weak in relation to the greenback on the local currency market on Monday.

According to the currency dealers, the dollar resumed trading at its last week closing of Rs 105.90 and Rs 106.20 as its buying and selling rate, respectively. As a result of fresh demand, the dollar’s rate moved up and ended higher at Rs 106.00 and Rs 106.30 on buying and selling side, respectively.

However, the rupee recovered some of its earlier loss and improved against the pound sterling. The pound’s buying and selling rate slide down from the last Saturday closing of Rs 153.10 and Rs 153.80 to Rs 152.50 and Rs 153.00, respectively, the dealers said.

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

The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (selling).

Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).

Source: Business Recorder