Rates moved both ways on the money market on Monday in the process of trading activity, dealers said. The rupee continued its fall against the dollar, shedding 15-paisa for buying and selling at Rs 104.40 and Rs 104.45 respectively, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee, however, gained 10-paisa in terms of the greenback for buying at Rs 105.90 and 15-paisa for selling at Rs 106.10. It also picked up 30-paisa versus the euro for buying and selling at Rs 116.00 and Rs 117.00 respectively, they added.
In the first Asian trade, the dollar edged higher against a basket of currencies in Asian trade on Monday with major currencies range-bound ahead of this week's US Federal Reserve meeting, while China's yuan depreciated further after the country's central bank said it has also begun tracking its currency against a basket.
Some investors viewed the new index as a green-light for more devaluation, and this view was reinforced when the central People's Bank of China on Monday set its yuan midpoint rate at its weakest level since 2011. The currency subsequently opened at a fresh 4-1/2 year low. The dollar was trading against the Indian rupee at Rs 66.96, the greenback was at 4.3150 in terms of the Malaysian ringgit and the US currency was at 6.4588 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 78.80-78.87 (previous 78.87-78.90.
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Open Bid Rs.105.90
Open Offer Rs.106.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.104.40
Offer Rate Rs.104.45
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RUPEE IN LAHORE: The rupee recovered against the dollar and the pound sterling on Monday.
But the dollar did remain under pressure in the absence of buyers' interest and ended at Rs 106.20 and Rs 106.50 as its buying and selling rates against the last week closing of Rs 106.50 and Rs 107.00.
The rupee also gained strength against the pound sterling that was traded at Rs 159.50 and Rs 160.80 on the buying and selling counters as compared with the last Saturday closing of Rs 160.80 and Rs 161.50.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar further gained strength against the Pak rupee at the open currency markets of Islamabad and Rawalpindi, here on Monday.
The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).
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