THE RUPEE: modest recovery

The rupee managed to recover modestly against the dollar on the money market on Monday in the process of trading, dealers said. The rupee recovered 10-paisa in terms of the dollar for buying and selling at Rs 104.33 and Rs 104.38 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee showed no changed in relation to the dollar for buying and selling at Rs 104.40 and Rs 104.60 respectively. It inched up 10-paisa in terms of the euro for buying and selling at Rs 117.60 and Rs 118.60 respectively.
In the first Asian trade, the dollar inched lower with investors sticking to the sidelines as the countdown begins on whether the Federal Reserve will hike interest rates for the first time in nearly a decade. The euro edged up 0.1 percent to $1.1350, holding on to last week's 1.8 percent gain. The dollar eased 0.1 percent to 120.42 yen against a basket of six major currencies. The dollar was trading against the Indian rupee at Rs 66.37, the greenback was at 4.3150 in terms of the Malaysian ringgit and the US currency was at 6.370 in terms of the Chinese yuan.

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Open Bid       Rs.104.40

Open Offer     Rs.104.60

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

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Bid Rate       Rs.104.33

Offer Rate     Rs.104.38

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RUPEE IN LAHORE: The Pak rupee appreciated its worth in relation to the greenback and British Pound at the open currency markets of Lahore on Monday.
Currency dealers said the dollar resumed trading at Rs 104.60 and Rs 104.85 on buying and selling counters, respectively, as against Rs 104.65 and Rs 104.90 on Saturday. In the wake of abundance supply of greenback at the local kerb, the dollar was closed lower at Rs 104.40 and Rs 104.70 on the buying and selling sides, respectively.
Likewise, the British Pound was purchased and sold at Rs 159.60 and Rs 160.30 as against Rs 160 and Rs 160.80 on Saturday, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee on the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 104 (buying) and Rs 104.25 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 104 (buying) and Rs 104.25 (selling). Pound Sterling opened at Rs 161 (buying) and Rs 161.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 161 (buying) and Rs 161.50 (selling).
Copyright Business Recorder, 2015