02192017Headline:
Rupee report - Rupee volatile against US dollar

Rupee report – Rupee volatile against US dollar

Rupee report Rupee volatile against dollar The rupee remained volatile against the dollar in both the interbank and open markets last week, as trading was restricted to three days. On the interbank market, the rupee commenced the week by losing 19 paisas reportedly owing to a strong demand for the dollar. The reserve currency ended the first trading session at Rs104.92 and Rs104.94 against the prior week’s close of Rs104.73 and Rs104.75. However, the rupee managed to recover four paisas for buying and 10 paisas for selling in the second trading session, as the dollar slipped to Rs104.85 and Rs104.90. The dollar appreciated by five paisas against the rupee in both the interbank and the open markets last week.The rupee continued its upward march in the third trading session, when it recorded fresh gains of seven paisas for buying and 10 paisas for selling. The greenback thus closed the week at Rs104.78 and Rs104.80. As a result, the dollar appreciated by a net five paisas against the rupee in the interbank market last week. But the rupee is up 0.69pc against the dollar so far this month, according to independent reports. Meanwhile, trading remained suspended on Thursday and Friday owing to public holidays on account of Eid Miladun Nabi (PBUH) and Quaid-e-Azam’s birth anniversary respectively. A similar pattern was observed in the open market, where the rupee began the week by losing 10 paisas for buying and 15 paisas for selling, with the dollar ending the first trading session at Rs106.20 and Rs106.50 against the prior week’s close of Rs106.10 and Rs106.35. However, the [...]