THE RUPEE: Gain persists

Pakistan rupee again gained value in open market against major currencies on Monday.

INTER-BANK MARKET RATES: Rupee's value did not change against USD in Interbank market as compared to Friday closing at Rs 163 and Rs 164 for buying and selling respectively.

OPEN MARKET RATES: In the open market, rupee appreciated by 50 paisas for buying and by 1 rupee for selling against USD closing at Rs 162.5 and 163.5 for buying and selling respectively.

Exchange rate against Euro also showed a similar trend where rupee gained value by 2.5 rupees for buying and 3 rupees for selling closing at Rs 173.5 and Rs 175.

Against UAE Dirham, buying and selling rates did not change as compared to Friday's rate closing at Rs 43 and Rs 43.5 respectively. Against Saudi Riyal, buying rate closed at Rs 40.70, while selling rate closed at Rs 41.30 thus showing gains of 30 paisas and 20 paisas for buying and selling respectively.

ISLAMABAD

The rupee gained 50 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi on Monday.

The dollar opened at Rs 162.50(buying) and Rs 162.60(selling) against last rate of Rs 163(buying) and Rs 163.10(selling).

It closed at Rs 162.50(buying) and Rs 162.60(selling).

The buying and selling rates of one tola of gold were Rs. 95,700 and Rs 95,500(buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.