Downward trend was seen on the currency market on Monday as the rupee drifted lower against dollar in process of trading, dealers said. Higher demand for dollars pulled the rupee down, losing 23 for paise buying at 90.35 and 22 paisa for selling at 90.37, they said.
INTERBANK MARKET: OPEN MARKET RATES: The rupee followed same pattern, shedding five paisa in relation to dollar for buying and selling at 90.25 and 90.45, they said. The rupee, however, gained 70 paisa against euro for buying and selling at Rs 118.00 and Rs 119.00, they said.
According to the Reuters in the first Asian trade euro came off six-week highs against dollar on Monday as investors took profits made on its strongest weekly rally in more than three months and cautiously awaited a debt swap deal between Greece and its private creditors.
The Australian dollar soured the mood more, moving further away from three-month peaks hit in the wake of the Fed's pledge to keep interest rates low, after ratings agency Fitch put major Australian banks on a negative ratings watch. The dollar against the Indian rupee was available at 49.51, versus the Malaysian Ringgit it was trading at 3.0460 and the greenback was at 6.3213 in relation to the Chinese yuan.
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Open Buying Rs 90.25
Open Selling Rs 90.45
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Buying Rs 90.35
Selling Rs 90.37
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RUPEE IN LAHORE: The rupee lost 10 paisa on buying side and remained unchanged on selling side in relation to dollar on Lahore currency market on Monday.
According to dealers, the dollar resumed trading at last week's Rs 90.20 and Rs 90.50 as buying and selling rates, respectively, and ended higher at Rs 90.30 on buying side, while remaining unchanged at Rs 90.50 on selling side.
The rupee improved against pound whose buying and selling rates declined from Saturday closing of Rs 141.20 and Rs 142.00 to Rs 140.70 and Rs 141.30, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against rupee at the currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 89 (buying) and Rs 89.20 (selling) against same last rates. It did not observe further change in the second session and closed at Rs 89 (buying) and Rs 89.20 (selling).
Pound sterling opened at Rs 138 (buying) and Rs 138.90 (selling) against same last rates. It did not observe further change in the evening session and closed at Rs 138 (buying) and Rs 138.90 (selling).
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