THE RUPEE: all-round gains

Smooth supply of dollars helped the rupee to continue its recovery in relation to the dollar in the currency market on Monday, dealers said. The rupee maintained its upward journey in relation to the dollar for buying and selling at Rs 104.10 and Rs 104.13 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: In line with the interbank trend, the rupee managed to climb versus the dollar, gaining 40-paisa for buying and selling at Rs 105.50 and Rs 105.70, respectively. The rupee also picked up 70-paisa against the euro for buying and selling at Rs 116.00 and Rs 117.00 respectively, they added.
In the first Asian trade, the dollar extended its post-payrolls gains in a sluggish start to the week with the Lunar New Year holidays and the Super Bowl game all but guaranteeing a tepid session in Asia. The dollar index ticked up 0.1 percent to 97.144, after having climbed 0.6 percent on Friday thanks to an upbeat non-farm payrolls report. The euro traded at $1.1131, having retreated from a three-month peak of $1.1250 touched on Friday. Interbank buy/sell rates for the taka against the dollar on Monday: 78.68-78.75 (previous 78.67-78.70).

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Open Bid       Rs 105.50

Open Offer     Rs.105.70

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.

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Bid Rate       Rs.104.10

Offer Rate     Rs.104.13

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RUPEE IN LAHORE: The rupee did show strength against the American dollar on Monday, as the latter did start badly and remained under selling pressure throughout the day.
It then did end lower at Rs 105.35 and Rs 105.80 as its buying and selling against Rs 105.60 and Rs 106.00 of last Saturday. The rupee too was weak against the British pound following buyers' interest. The pound finished higher at Rs 152.00 and Rs 153.00 as compared with the last week closing of Rs 151.50 and Rs 152.50.
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).
Copyright Business Recorder, 2016