THE RUPEE: dollar, euro score gains
Bearish sentiment was witnessed on the money market on Monday as a result of higher demand for the US currency, dealers said. The rupee continued falling versus dollar, losing 25 paisa for buying at 89.80 and losing 24 paisa for selling at 89.84 amid persisted buying of dollars by importers, they added.
INTERBANK MARKET DEALINGS: OPEN MARKET RATES: The rupee shed 10 paisa in relation to dollar for buying at 89.80 while it managed to hold its weekend level at 90.00 for selling, they said.
The rupee drifted lower versus euro, shedding 24 paisa for buying and selling at Rs 116.69 and Rs 117.19, they said.
Reuters adds: In the first Asian trade, dollar bounced against major rivals in Asia, as uncertainty following news of North Korean leader Kim Jong-il's death increased the US currency's safe-haven appeal. North Korean state television reported the demise of the leader of the reclusive nation, which had begun the process of transferring power to his son Kim Jong-un. The older Kim was said to have suffered a heart attack on a train on Saturday.
The dollar was trading against the Indian rupee at 53.00, versus the Malaysian ringgit it was at 3.1790 per unit and it was available in terms of the Chinese yuan at 6.354. Interbank buy/sell rates for taka against dollar on Monday: 80.78-80.84 (previous 80.65-80.73). Call Money Rates: 20.00 percent (previous 14.00-22.00 percent.
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday
RUPEE IN LAHORE:
The rupee lost 30 paisa on buying side and 20 paisa on selling side against dollar at Lahore currency market on Monday. According to dealers, dollar was higher at Rs 89.70 and Rs 90.00 as buying and selling rates against last Saturday's Rs 89.40 and Rs 89.80, respectively.
However, the rupee was unchanged on buying side against pound, while it gained 10 paisa on selling side. The pound was traded at Rs 138.50 and Rs 139.50 against previous Rs 138.50 and Rs 139.60, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI:
The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi, here on Monday.
The dollar opened at Rs 89 (buying) and Rs 89.20 (selling) against the same last rate. It did not observe further change in the second session and closed at Rs 89 (buying) and Rs 89.20 (selling). Pound Sterling opened at Rs 138 (buying) and Rs 138.90 (selling) against the same last rate. It did not observe further change in the evening session and closed at Rs 138 (buying) and Rs 138.90 (selling).
Copyright Business Recorder, 2011