The rupee managed to resist fresh fall against the dollar on the currency market, dealers said. Slight improvement in supply of dollars, aided the rupee fresh erosion in its value versus the greenback, they said. The rupee gained eight paisa against the dollar for buying at Rs 96.52 and it also picked up 10 paisa for selling at 96.56, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee appreciated by 15 paisa in relation to the dollar for buying and selling at 97.20 and 97.40, they said. The national currency, however, depreciated by 20 paisa against the euro for buying and selling at Rs 125.40 and Rs 126.40, they said.
In the first Asian trade, the euro hit a six-week high against the dollar on Monday as upbeat data on the Chinese economy boosted risk sentiment, reversing earlier losses triggered by a credit downgrade of the euro zone rescue funds late last week. Despite encouraging Chinese manufacturing surveys, however, the Australian dollar dipped as disappointing local retail sales cemented expectations that the Reserve Bank of Australia will cut interest rates on Tuesday.
"The market was initially cautious on the euro after the credit downgrade of rescue funds. But sellers are being forced to buy it back now," said a trader at a Japanese bank. The dollar was trading against the Indian rupee at Rs 54.54 and the US currency was at 3.0410 against the Malaysian ringgit. Interbank buy/sell rates for the taka against the dollar on Monday: 81.28-81.35 (previous 81.26-81.37). Call Money Rates: 07.75-08.00 percent (previous 06.00-08.50 percent).
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Open Buying Rs 97.20
Open Selling Rs.97.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.96.52
Offer Rate Rs.96.56
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RUPEE IN LAHORE: The national currency appreciated in terms of the dollar in the local currency market on Monday, dealers said.
The rupee gained 10 paisa versus the dollar for buying at Rs 97.30 and it picked up five-for selling at Rs 97.60), they said. However, the rupee remained under pressure and was declined against the pound sterling. The pound was purchased and sold at Rs 154.00 and Rs 154.60 as compared to last week closing of Rs 153.75 and Rs 154.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Monday. The dollar opened at Rs 96.9 (buying) and Rs 97 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 96.9 (buying) and Rs 97 (selling). Pound Sterling opened at Rs 153 (buying) and Rs 153.5 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 153 (buying) and Rs 153.5 (selling).
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