Written by Ayaz Ali Messam Monday, 16 August 2010 00:00
Appreciation was witnessed in the price of US dollar as demand of greenback rose in the currency exchange market today. The American currency started off new week’s trading at its Friday’s closing rate of Rs.85.45, posted gains amid demand high and was trading at Rs.85.50 at close of markets on Monday. Thus, rupee lost 0.05 paisas versus dollar in the kerb dealings. In the international market on Monday, A statement from US Treasury Department reported that net TIC inflows amounted to 6.7 billion, and net long-term TIC outflows rose to 44.4 billion in June. The data depicted investors rising demand in US treasuries, while shunning short-term US securities, including equities and corporate bonds.

