THE RUPEE: all-round gains

Friday, June 12, 2009

KARACHI : All-round gains were seen on the currency market on Thursday amid easy supply of dollars in process of trading, dealers said. The rupee on the interbank market, managed to gain 25 paisa against dollar for buying and selling at 80.80 and 80.85, they said.

Marketmen said that fluctuations in the rupee versus dollar is totally depending on the demand and supply factor. They also said that the rupee may not face sharp fluctuations till the end of the final session of the out-going fiscal year 2008-09. In the fourth session of the Asian trade dollar fell against a basket of currencies, paring some gains made after the benchmark US Treasury yield hit its highest point in eight months the previous day.


Courtesy: BRecorder