Ru­pee rules firm against dol­lar

The Pak Banker - - FRONT PAGE - Staff Reporter

Diver­gent trends were wit­nessed in the lo­cal cur­rency mar­ket last week. Con­fused over the fu­ture oil price trends most of the cur­rency deal­ers adopted a wai­t­and-see pol­icy and kept to the side­lines.

In Jan­uary 2016, the ru­pee de­pre­ci­ated against the dol­lar by 0.1pc on the in­ter­bank mar­ket and by 0.5pc in the open mar­ket. Some an­a­lysts fear that the lo­cal cur­rency could de­pre­ci­ate to fresh lows against the green­back in com­ing months. How­ever, no sig­nif­i­cant changes were wit­nessed in the ru­pee/dol­lar par­ity last week on the in­ter­bank mar­ket.

The ru­pee traded al­most un­changed against the dol­lar in the in­ter­bank deal­ings amid lack­lus­tre de­mand through­out the last week af­ter com­menc­ing the first trad­ing ses­sion at Rs104.94 and Rs104.95, un­changed against the dol­lar from the pre­vi­ous week­end level.

Af­ter trad­ing flat at Rs104.94 and Rs104.95 for the four suc­ces­sive ses­sions, the ru­pee in the last trad­ing ses­sion staged a re­cov­ery post­ing four paisas gain on the buy­ing and three paisas on the sell­ing coun­ters be­fore clos­ing the week at Rs104.90 and Rs104.92. Both the de­mand and sup­ply of dol­lar re­mained in bal­ance.

An­a­lysts are of the opin­ion that fall in in­ter­na­tional oil prices would keep the green­back de­mand on lower side. On weekover-week ba­sis, the dol­lar de­pre­ci­ated against the ru­pee by 0.04pc on the in­ter­bank mar­ket last week. In the open mar­ket, mi­nor changes were wit­nessed dur­ing the week with the ru­pee trad­ing against the dol­lar be­tween the high of Rs106.20/50 and the low of Rs106.30/60. It com­menced the week in neg­a­tive mode as it posted 10 paisas loss in the first trad­ing ses­sion at Rs106.20 and Rs106.50.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.