Daily Times

The greenback closed flat in value versus rupee on insignificant demand from corporate sector in interbank while shed value in open market.

The commercial banks kept maintaining local currency in firm zone and controlling inflow and outflow of greenback.

The dollar closed at Rs 133.20 for buying and Rs 133.40 for selling with no change against the rupee. The dollar traded at a low of Rs 133.19. The dollar rate differential between kerb and interbank markets remained 81 paisas on day’s average.

According to commercial banks, demand from the importers and corporate sector was dull that kept dollar away from surge while payment near-zero from national exchequer stopped dollar to rise. Commercial banks helped the rupee to stand firm versus dollar.

The euro remained firm in the interbank market to close at Rs 154 for buying and Rs 154.20 for selling after gaining Re 1. The pound sterling remained flat and closed at Rs 170.21 and Rs 170,41 for buying and selling respectively.

Kerb Market: The dollar remained down in value in the open market following flat demand from corporate and private sector in interbank.

The dollar closed at Rs 132 for buying and Rs 132.20 for selling in the open market against rupee. It lost Re 1.

The demand and supply of dollar in the open market was normal while demand from private sector remained dull.

The pound sterling closed at Rs 174 for buying and Rs 174.20 for selling after remaining flat in value against rupee, while euro remained dull flat to close at Rs 152 for buying and closed at Rs 152.20 for selling.

Published in Daily Times, October 12^th 2018.