INTER-BANK MARKET RATES: There was persistent demand for the dollar but on the other hand, the supply was strong, which helped rupee to hold the week-end levels, money experts said.
OPEN MARKET RATES: The rupee shed 10 paisa in relation to the dollar for buying and selling at 98.00 and 98.20, they said. The rupee also dropped same amount versus the euro for buying and selling at Rs 128.56 and Rs 129.60, they said.
In the first Asian trade, the yen fell and neared a 20-month low versus the dollar after incoming premier Shinzo Abe renewed pressure on the Bank of Japan to adopt a two percent inflation target. The yen, which rose on Friday on position-squaring, came back under pressure after Abe said on Japanese television on Sunday that he will try to revise a law guaranteeing the BOJ's independence if his demand for a binding inflation target is not met.
The dollar was trading against the rupee Rs 55.11, the greenback was available at 3.0640 in terms of the Malaysian ringgit and the US currency was at 6.233 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 79.90-80.00 (previous 80.00-80.01). Call Money Rates: 09.00-10.00 percent (previous 7.00-11.00 percent).
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Open Buying Rs.98.00
Open Selling Rs.98.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.97.50
Offer Rate Rs.97.55
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RUPEE IN LAHORE: The Pak rupee showed stability and stayed unchanged amid sluggish trading on the local currency market on Monday.
According to the currency dealers, there was no change in the dollar's demand and supply situation. The dollar commenced trading at its last Saturday closing of Rs 97.80 and Rs 98.30 as its buying and selling rates, respectively. The dollar witnessed fractional change in its rate during the day's trading but finally closed at the opening level, the dealers said. However, the rupee gained 50-paisa on buying side but remained unchanged on selling side against the pound sterling. The pound was traded at Rs 158.00 and Rs 159.00 on buying and selling counters as compared to last week closing of Rs 158.50 and Rs 159.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The Pak rupee showed stability and stayed unchanged amid sluggish trading on the local currency market on Monday.
According to the currency dealers, there was no change in the dollar's demand and supply situation. The dollar commenced trading at its last Saturday closing of Rs 97.80 and Rs 98.30 as its buying and selling rates, respectively. The dollar witnessed fractional change in its rate during the day's trading but finally closed at the opening level, the dealers said. However, the rupee gained 50-paisa on buying side but remained unchanged on selling side against the pound sterling. The pound was traded at Rs 158.00 and Rs 159.00 on buying and selling counters as compared to last week closing of Rs 158.50 and Rs 159.00, respectively, they added.