THE RUPEE: rates slide

A falling trend was seen on the money market on Monday as the rupee drifted lower versus the dollar in the process of trading, dealers said. The rupee shed one paisa in terms of the dollar for buying and selling at Rs 105.42 and Rs 105.44 respectively, they said. In the first Asian trade, the euro slipped after a violence-marred independence vote in Spain's Catalonia region fuelled anxiety over political risk in the euro zone, and as a renewal of the "Trumpflation trade" lifted the dollar across the board.
INTER-BANK MARKET RATES: Data showing factories across the euro zone enjoyed their most productive month since early 2011 in September could provide no support to the single currency, which slipped 0.7 percent to $1.1730, close to its lowest in six weeks.
Investors were watching the political situation in Spain nervously, after police used batons and rubber bullets to try to prevent Sunday's banned vote in a show of force that left hundreds injured. Inter bank buy/sell rates for the taka against the dollar on Monday: 80.80-80.80 (previous 80.80-80.80).
OPEN MARKET RATES: The rupee dropped 10 paisas against the dollar for buying and selling at Rs 106.20 and Rs 106.40 respectively, they said. The rupee, however, gained 60 paisas in terms of the euro for buying and selling at Rs 124.50 and Rs 125.75 respectively, they said.

========================

Open Bid       Rs.106.20

Open Offer     Rs.106.40

========================

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

========================

Bid Rate       Rs.105.42

Offer Rate     Rs.105.44

========================

RUPEE IN ISLAMABAD AND RAWALPINDI: The Pak rupee remained under pressure and declined by 20-paisa in relation to the greenback in the local currency market on Monday.
According to the currency dealers, the dollar resumed trading on a healthy note and kept on rising following fresh demand during the day. At close of trading, the dollar ended higher at Rs 106.40 and Rs 106.80 on buying and selling side against the previous closing of Rs 106.20 and Rs 106.60, respectively.
However, the remained unchanged on buying side while it lost worth on selling side against the British pound that was traded at Rs 141.50 and Rs 142.50 on buying and selling counter as compared with the last week closing of Rs 141.50 and Rs 142.30, the dealers said.
Copyright Business Recorder, 2017