THE RUPEE: dollar moves both ways

The moved both ways on the currency market on Monday, marketmen said. The rupee slipped in relation to dollar, losing two paisa against dollar for buying at 90.30 and shed three paisa for selling at 90.35, they said.
INTERBANK MARKET: OPEN MARKET RATES: The rupee posed sharp gain of 60 paisa in terms of dollar for buying and selling at 90.60 and 90.90, they said. While the rupee extended its overnight gain in relation to euro, rising Rs 1.17 for buying and selling at Rs 114.16 and 114.66, they said.
In the first Asian trade euro hit a fresh 11-year low versus yen and was stuck near a 17-month low against dollar after Standard & Poor's mass downgrade of euro zone countries late last week. News of the downgrade came as negotiations between Greece and private creditors on a debt swap deal broke down, raising the risk of a messy Greek default. Markets are also worried the euro zone's bailout fund, EFSF, might lose its AAA rating with S&P as well.
The euro fell 0.4 percent against yen to 97.14 yen, and hit a fresh 11-year low of 97.04 yen at one point on trading platform EBS, with traders citing euro selling by Japanese exporters. Interbank buy/sell rates for taka against dollar on Monday : 83.75-84.00 (previous 83.60-83.75) Call Money Rates: 12.75-20.00 percent (previous 12.75-20.00 percent).
China's yuan closed slightly lower against dollar in line with the central bank's weaker mid-point fixing, and the currency is expected to move mainly in a virtual peg of 6.30 to 6.40 to the dollar in coming weeks. The dollar was available versus the Indian rupee at Rs 51.64 and the greenback was at 3.1455 in terms of the Malaysian ringgit, Reuters adds.

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Buying          Rs 90.30

Selling         Rs 90.35

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

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Open Buying     Rs.90.60

Open Selling    Rs.90.90

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RUPEE IN LAHORE: The rupee gained 80 paisa against dollar on Lahore currency market on Monday. According to dealers, the dollar remained under pressure and closed at Rs 90.70 and Rs 91.20 as buying and selling rates against Saturday's Rs 91.50 and Rs 92.00, respectively. Similarly, the rupee also improved against pound, whose buying and selling rates declined to Rs 138.50 and Rs 139.50 from ast week's Rs 139.50 and Rs 140.50, 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 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 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, 2012