Bullish sentiment seen on the money market on Monday as the rupee managed to rise modestly versus dollar and euro, dealers said. The rupee posted fresh gain of 10 paisa in relation to dollar for buying at 90.88 and rose by 11 paisa for selling at 90.90, dealers said.
INTERBANK MARKET: OPEN MARKET RATES: The rupee gave up weakness in relation to dollar, picking up five paisa for buying and selling at 91.00 and 91.20, they said. Against euro the rupee, appreciated by 80 paisa for buying and selling at Rs 119.60 and Rs 120.60, they said.
In the first Asian trade dollar pulled away from a nine-month high hit on Friday as traders booked profits after the US currency rose nearly eight percent in about a month. The dollar fell 0.6 percent versus yen to 81.31 yen, retreating from a high of 81.873 yen on Friday on trading platform EBS, the weakest level for the Japanese currency since late May 2011.
Indian rupee slipped to a six-week low on Monday weighed by persistent dollar demand from importers for oil payments as well as defence equipment purchases and weak local shares. The rupee ended at 49.835/845 to dollar, after dipping to 49.9550, a level last seen on January 25, Thomson Reuters data showed. The currency closed at 49.50/51 on Friday. But, dealers expect the local currency to find support from dollar sales by exporters and possibly the Reserve Bank of India, whose policy is to smoothen sharp volatility in the rupee.
Inter bank buy/sell rates for taka against dollar: 81.60-81.84 (previous 81.60-81.80) Call Money Rates: 10.75-15.00 percent (previous 07.00-15.00 percent).
The yuan ended slightly lower against dollar after the People's Bank of China set its midpoint sharply lower, the biggest single-day percentage fall in 16 months, a move traders said signalled the government may allow a wider trading range. Spot yuan ended at 6.3067 versus the dollar around midday on Monday, weaker than Friday's close of 6.2982, adds Reuters.
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Open Buying Rs 91.00
Open Selling Rs 91.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Buying Rs.90.88
Selling Rs.90.90
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RUPEE IN LAHORE: The rupee recovered some of its previous loss and gained 10-paisa on buying side while it remained unchanged on selling side against the US dollar in the local currency market on Monday.
According to the currency dealers, the dollar commenced trading at its Saturday closing of Rs 91.10 and Rs 91.25 as its buying and selling rates, respectively. However, at the end of trading, the dollar was closed at Rs 91.00 and Rs 91.25 on buying and selling counters, respectively.
Similarly, the rupee was opened on a healthy sign and appreciated its worth against the pound sterling. The pound was purchased and sold at Rs 143.40 and Rs 144.00 as compared to last week closing of Rs 143.85 and Rs 144.50, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of dollar against the rupee remained unchanged at the local currency markets of Islamabad and Rawalpindi here on Monday.
The dollar resumed trading at Rs 91 (buying) and Rs 91.20 (selling) against same overnight value. Ever-favorite greenback did not witness any further change in the last trading hours and closed at Rs 91 (buying) and Rs 91.20 (selling).
Pound Sterling resumed trading at Rs 142 (buying) and Rs 142.50 (selling) against same previous rate. British currency did not observe further change in the evening session and closed at Rs 142 (buying) and Rs 142.50 (selling).
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