Demand of US currency remained low on the start of week versus rupee in the currency exchange market today. The US dollar started off new day’s trading at Rs.85.75, due to low demand remained at the same price at close of markets on Monday. Thus, rupee ended the day on a positive note versus dollar in the kerb dealings. In the international market, the US dollar incurred overnight losses in the New York session, giving up 1.3% against the cable and shedding by almost 1% against Australian dollar. Improved risk-appetite was the main factor to drive in the markets at the start of the week, with the sharp rally in the European and US equity bourses.

 

The journey of rising of Pound continued as it crossed 133.50 level in the forex market against rupee. The cable commenced trading at Rs.133.20, posted more gains amid hike in its demand and was trading at Rs.133.80 on Monday. Thus, rupee shed 0.60 more paisas versus the British currency.

Euro continued to trade on a positive trend in the exchange rate market here in Pakistan. The single currency was changing hands at Rs.111.50 On Monday as compared to Rs.111.30 on Friday. Thus, rupee shed 0.30 paisas against the 16-nation currency.

The UAE currency shed mere grounds versus rupee amid decline in Dirham’s demand in the kerb dealings. The UAE Dirham set off new day’s trading at Rs.23.28, gave up grounds and was trading at Rs.23.26 at close of markets on Monday. Thus, rupee recovered 0.02 paisas versus Emirates’ currency.