THE RUPEE: mixed patterns

The rupee dropped sharply against the dollar on the iterbank market, while the national currency did not move any side on the open market on Monday in the process of trading, dealers said. The rupee dipped in terms of the dollar, losing 15-paisa for buying and selling at Rs 104.88 and Rs 104.90 respectively, experts said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee retained overnight levels against the dollar for buying and selling at Rs 105.90 and Rs 106.10 respectively, they added. The rupee shed 30-paisa in relation to the euro for buying and selling at Rs 115.50 and Rs 116.50 respectively, they added.
In the first Asian trade, the dollar fell to a 10-week low against the yen as sliding equities and rising tension in the Middle East added bids to the safe-haven Japanese currency.
The dollar was down 0.4 percent at 119.77 yen after hitting 119.685, its lowest since October 22. Stocks slid across Asia, hit by a rise in geopolitical tension after Saudi Arabia cut ties with Iran and soft Chinese economic data. The dollar was trading against the Indian rupee at Rs 66.42, the greenback was at 4.3260 in terms of the Malaysian ringgit and the US currency was at 6.5096 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday" 78.50-78.50 (previous 78.50-78.50).

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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.104.88

Offer Rate     Rs.104.90

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RUPEE IN LAHORE: The rupee-dollar parity rates were unchanged on the money market on Monday. The dollar did close at Rs 106.50 and Rs 107.00 as the buying and selling rates but never saw any change in its demand and supply helping the rupee stability instead. The opening rates did continue to dominate till the close of trading. The rupee did go weak and finally decline against the pound sterling that was traded at Rs 156.20 and Rs 157.00 on buying and selling as compared with the last Saturday closing of Rs 155.50 and Rs 156.50.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar further gained strength against the Pak rupee on 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).
Copyright Business Recorder, 2016