Dollar closes even versus rupee

The rupee-dollar’s parity remained unchanged in interbank on Monday due to the insignificant demand by corporate sector of dollar besides modest intervention by State Bank of Pakistan.

The dollar closed at Rs 104 for buying and Rs 104 for selling. It remained constant against the rupee. The dollar traded at a low of Rs 103.90. The dollar rate differential between kerb and interbank markets increased to 10 paisas.

Due to comparatively lesser-than-usual demand of dollar from the corporate sector, coupled with central bank’s intervention helped the rupee to remain unfaltering, bankers said.

The euro gained 54 paisas in the interbank market to close at Rs 116.34 for buying and Rs 116.57 for selling. The pound sterling shed Rs 1.55 to close at Rs 158.09 and Rs 158.39 for buying and selling respectively.

Kerb Market: The rupee remained dull against the dollar in the open market after standing unchanged in the inter bank market, foreign exchange dealers said.

The US dollar closed at Rs 104.35 for buying and Rs 104.60 for selling. It gained 20 paisas in the open market against the rupee.

The demand and supply of dollar in the open market was normal, hence increased demand put rupee support-less from its unchanged value in interbank market and closed after loss in open market.

The pound sterling closed at Rs 157.60 for buying and Rs 158.30 for selling, it shed 90 paisas against the rupee while the euro closed at Rs 115.75 for buying and Rs 116.25 for selling. It gained 85 paisas in the kerb.

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