PAKISTAN RUPEE: dollar hits again 77 mark on 16th Sep. 2008

KARACHI (September 17 2008): Sharp erosion was seen in the rupee’s value against dollar in the interbank market on Tuesday, shedding 33 paisa for buying and 35 paisa for selling at 76.95 and 77.00, currency dealers said. The sharp rise in dollar demand indicating that it may cross the level of 77.20 mark in the coming days, they said.

In the second Asian trading, the US dollar slumped against yen as risk aversion spread on the back of a slump in equities following the collapse of Lehman Brothers Holdings Inc. Investors in Tokyo had their first chance to fully react to the Lehman debacle on Tuesday as Japanese markets were closed on Monday for a public holiday.

OPEN MARKET RATES: The rupee was down versus dollar, dipping by 20 paisa for buying and selling at 76.70 and it also shed 10 paisa for selling at 77.00, dealers said. The rupee, however, gained Rs 1.30 in relation to the euro for buying and selling at 108.60 and Rs 108.75, dealers said.

Interbank Closing Rates: Interbank Closing Rates For Dollar On Tuesday

RUPEE IN LAHORE: The Pak rupee lost 25-paisa on buying side (Rs 76.90) and 45-paisa on selling side (Rs 77.30) in relation to the greenback in Lahore currency market on Tuesday. The dollar opened at Rs 76.00 and Rs 77.00 on buying and selling sides, respectively. Due to increasing demand dollar rate increased at Rs 76.90 and Rs 77.30 on buying and selling counters, respectively, as against Monday’s rates of Rs 76.65 and Rs 76.85.

Similarly, the British pound appreciated its worth on buying side at Rs 137.50 as against Rs 137.25 of Monday. The Pound was traded at Rs 138.00 on selling counter as compared to Rs 138.25 of last day.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar showed improvement of 10 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi on Tuesday.

The dollar opened at Rs 76.80 (buying) and Rs 76.90 (selling) against last rate of Rs 76.70 (buying) and Rs 76.80 (selling). There was no further change in the evening session and closing was seen at Rs 76.80 (buying) and Rs 76.90 (selling). Pound Sterling opened at Rs 137 (buying) and Rs 137.50 (selling) against same overnight value. It did not go under any change in the second session and market closed at Rs 137 (buying) and Rs 137.50 (selling).

Courtesy: Business Recorder, 17/9/2008

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