Strong demand pushed dollar higher against the rupee on the currency market on Monday, dealers said. The dollar gained strength on rising demand ahead of bank holiday on account of 66th Independence Day of Pakistan on Tuesday, money experts said.
INTER-BANK MARKET: The rupee lost versus dollar 35 paisa for buying and selling at 94.55 and 94.60, dealers said.
OPEN MARKET RATES: The rupee also depreciated by 50 paisa in relation to dollar for buying and selling at 94.60 and 94.80, they said.
The rupee, however, dropped by 30 paisa versus euro for buying and selling at Rs 115.30 and Rs 116.30, respectively. In the first Asian trade euro nudged higher against dollar on Monday, helped by hopes that the European Central Bank will soon take action to ease the euro zone's sovereign debt crisis. After hitting a one-month high a week ago, euro remains supported by expectations that the ECB will put in place measures to lower crippling borrowing costs for countries such as Spain and Italy as soon as next month.
The dollar was trading against the Indian rupee at 55.40, the greenback was available versus the Malaysian ringgit at 3.1190 and the US currency was at 3.1165 in relation to the Chinese yuan. Inter bank buy/sell rates for taka against dollar on Monday: 81.38-81.50 (previous 81.50-81.51). Call Money Rates: 07.00-14.00 percent (previous 07.00-13.00 percent).
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Open Buying Rs.94.60
Open Selling Rs.94.80
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Inter-Bank Market: Inter-Bank Market for Dollar on Monday.
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Bid Rate Rs.94.55
Offer Rate Rs.94.60
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RUPEE IN LAHORE: The Pak rupee depreciated its worth by 20-paisa in relation to the greenback in the local currency markets on Monday.
According to the moneychangers, the greenback opened at Rs 94.20 (buying) and Rs 94.50 (selling) against same closing rates of Saturday. In the wake of surge in its demand, the dollar improved its worth and closed at Rs 94.40 and Rs 94.70 on buying and selling counters, respectively.
Likewise, the local currency lost its worth against the pound sterling. The British Pound was purchased and sold at Rs 146.60 and Rs 147.50 on buying and selling sides, respectively, as against Rs 146.50 and Rs 147.30 of Saturday, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 94.20 (buying) and Rs 94.30 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 94.20 (buying) and Rs 94.30 (selling). Pound Sterling opened at Rs 146 (buying) and Rs 146.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 146 (buying) and Rs 146.50 (selling).
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