The rupee failed to retain its week end gains against the dollar on the currency market on Monday in process of trading, dealers said. Commenting on the present political turmoil in the country, some currency viewers said that the rupee is under pressure, if uncertainties not shed, the local currency may continue its fall versus the dollar.
INTERBANK MARKET RATES: The rupee lost eight paisa in relation to the dollar for buying at Rs 100.03 and it also shed seven paisa selling at Rs 100.05, they said.
OPEN MARKET RATES: The rupee dropped 10 paisa against the dollar for buying at Rs 99.85 and the national currency did not show any change for selling at Rs 99.95, they said. The rupee picked up 20 paisa in relation to the euro for buying and selling at Rs 133.00 and Rs 133.25, they said.
In the first Asian trade, the dollar edged down against a basket of currencies, as US Treasury yields wallowed close to 16-month lows and made the greenback less attractive. Sterling rose after the Bank of England indicated that UK interest rates may have to rise even before wage growth recovers, backtracking from earlier comments that prompted markets to push out the risk of a rate hike.
The dollar was trading against the Indian rupee at Rs 60.76, the greenback was at 3.1525 versus the Malaysian ringgit and the US currency was at 6.1464 in terms of the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday. 77.44-77.44 (previous 77.44-77.45). Call Money Rates: 05.50-07.25 percent (previous 05.50-07.25 percent).
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Open Bid Rs.99.85
Open Offer Rs.99.95
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.100.03
Offer Rate Rs.100.05
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RUPEE IN LAHORE: The Pak rupee recovered some its earlier loss and gained five-paisa against the US dollar on the local currency market on Monday.
According to the currency dealers, the dollar resumed trading at its last week closing of Rs 99.70 and Rs 99.95 on buying and selling side, respectively. In the absence of buyers' interest, the dollar could not sustain and was declined to Rs 99.65 and Rs 99.90 as its buying and selling rates, respectively, the dealers said.
On the contrary, the rupee remained under pressure and was depreciated against the pound sterling. Amid fresh demand, the pound's buying and selling rates were improved from last Saturday closing of Rs 165.75 and Rs 166.00 to Rs 166.25 and Rs 166.50, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Monday. The dollar opened at Rs 99.50 (buying) and Rs 99.60 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 99.50 (buying) and Rs 99.60 (selling). Pound Sterling opened at Rs 165 (buying) and Rs 165.50 (selling) against same last rate. It did not observe any further fluctuation by the end of the day and closed on the same rates.
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