THE RUPEE: dollar turns lower

Tuesday, September 01, 2009

KARACHI: The rupee trimmed its loses against dollar on the currency market on Monday, experts said. On the interbank market the rupee gained 8 paisa versus the US currency for buying and selling at 83.02 and 83.07, dealers said.

In the First Asian trading yen rose to its highest in seven weeks against dollar, boosted by the end of election uncertainty following a thumping win for the opposition Democratic Party of Japan (DPJ) and then by dollar sell orders. The yen edged up after the landslide election victory on Sunday and then gathered pace as automatic dollar sell orders were triggered close to 93.00 yen per dollar, traders said.

OPEN MARKET RATES: The rupee inched up with a rise of five paisa in relation to dollar for buying and selling at 82.95 and 83.05 in process of trading, dealers said. The rupee also rose by 50 paisa in terms of euro for buying and selling at Rs 117.30 and Rs 117.80, they said.

Open Buying Rs 82.95

Open Selling Rs 83.05

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

Buying Rs.83.02

Selling Rs.83.07

(BRecorder)

Need more financial stories?? Visit Finance.KalPoint.Com