THE RUPEE: easier trend - Business Recorder

February 04, 2014

RECORDER REPORT

Bears dominated the money market on Monday as the rupee tended lower versus the dollar, dealers said. The rupee shed 12-paisa in terms of the dollar for buying and selling at Rs 105.60 and Rs 105.62 respectively, dealers said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee was unchanged against the dollar for buying and selling at Rs 105.75 and Rs 105.85 respectively, they said.

While, the rupee inched down by five-paisa in terms of the euro for buying and selling at Rs 144.30 and Rs 144.55 respectively, they said. In the first Asian trade, the euro licked its wounds near a ten-week low against the dollar on Monday after soft euro zone inflation data rekindled speculation the European Central Bank may ease policy to stave off deflation. Worries about capital flight from emerging economies also kept investors at arms length from risk assets, underpinning the yen ove r growth-sensitive, high-yielding currencies. The dollar was trading against the Indian rupee at 62.61, the greenback was at 3.3450 in terms of the Malaysian ringgit and the US currency was at 6.0600 versus the Chinese yuan.

======================== Open Bid Rs 105.75 Open Offer Rs 105.85 ========================

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

======================== Bid Rate Rs 105.60 Offer Rate Rs 105.62 ========================

RUPEE IN LAHORE: The Pak rupee was marginally improved and gained five-paisa in relation to the greenback on the local currency market on Monday.

According to the currency dealers, the dollar commenced trading at its last week closing of Rs 106.55 and Rs 106.80 as its buying and selling rates, respectively. Because of lacking buyers' interest, the dollar was slightly declined to Rs 106.50 and Rs 106.75 on buying and selling side, respectively, the dealers said.

However, the national currency remained under pressure and was depreciated against the British pound. The pound was traded at Rs 175.50 and Rs 175.75 on buying and selling counter, compared with last Saturday closing of Rs 175.25 and Rs 175.50, respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Monday.

The dollar opened at Rs 10 6 (buying) and Rs 106.25 (selling) against last rate. It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.25 (selling).

Pound Sterling opened at Rs 173 (buying) and Rs 173.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.

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