THE RUPEE: upward trend
The rupee held its week-end firmness against the dollar and euro on the currency market on Monday, dealers said. They said it was surprising to note that the national currency moved up in terms of the single European currency despite making sharp gain in the overseas market.
INTER-BANK MARKET RATES: On the inter-bank market, the rupee maintained rising trend versus the dollar, gaining 20-paisa for buying at Rs 108.20 and it also picked up 21-paisa for selling at Rs 108.22.
OPEN MARKET RATES: The rupee managed to pick up 10-paisa for buying at Rs 107.70 and it, however, lost 15-paisa for selling at Rs 107.90. The rupee inched up by 10-paisa versus the euro for buying and selling at Rs 147.40 and Rs 147.65, they said.
In the first Asian trade, the euro raced to a near six-week high against the dollar and scaled a fresh five-year peak versus the yen after strong US payrolls data boosted risk appetite despite threats of a possible reduction in the US monetary stimulus.
The closely watched US payrolls report on Friday showed employers hired more workers than expected in November, driving the jobless rate to a five-year low of 7.0 percent.
The dollar was trading against the Indian rupee at Rs 61.04, the rupee was available at 3.2180 in relation to the Malaysian ringgit and the US currency was at 6.0725 in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday: 77.75-77.76 (77.75-77.75). Call Money Rates: 06.25-08.00 percent (previous 05.50-08.00 percent).
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
RUPEE IN LAHORE:
The Pak rupee recovered its earlier loss in relation to the foreign currencies at the open currency markets of Lahore on Monday.
The dollar resumed trading at Rs 107.65 for buying and Rs 108.20 for selling against previous rate of Rs 108.00 and Rs 108.25. In the wake of less demand, the greenback depreciated its worth in relation to the local currency and closed at Rs 107.30 and Rs 1080.00 on buying and selling counters, respectively.
Likewise, the British pound lost its worth against the Pak rupee. Pound Sterling was purchased and sold at Rs 175.50 and Rs 176.50 as against previous rate of Rs 176.75 and Rs 177.00.
RUPEE IN ISLAMABAD AND RAWALPINDI:
The rupee showed an improvement of Re 1 against the dollar on the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar resumed trading at Rs 108 for buying and Rs 108.10 for selling against last rate of Rs 109 for buying and Rs 109.10 for selling. It did not observe further change in the second session and closed at Rs 108 for buying and selling Rs 108.10 for selling.
Pound Sterling opened at Rs 174 for buying and Rs 174.50 for selling against same last rate. It closed at the same rate without further change by the end of evening session.
Copyright Business Recorder, 2013