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ISLAMABAD

The rupee remained unchanged against the dollar in the Islamabad and Rawalpindi markets on Monday.

The markets of twin cities commenced the week with a stagnant greenback at Rs 54.30 against last Saturday's same rate. The dollar was sold at Rs 54.35 as compared to last rate.

Dealers said the Islamabad market started the day on a comparatively sluggish note as buyers and sellers seem to be not interested in trading of greenback in the morning session. The overall turnover expanded in the second session and the market closed on a moderate note.

They said that balanced demand and supply factor did not affected the buying and selling rates of the greenback in twin cities. However, any motivating factor on the economic front and fresh supply of greenback will definitely help the rupee to rebound in kerb.

Other currencies like pound, dirham and riyal also moved in a narrow range with thin turnover throughout the day, dealers added.

British currency continued its downward journey as it resumed trading at Rs 87 (buying) as compared to previous Rs 87.50. It moved in a tight band with moderate volume and was sold at Rs 87.30.

UAE dirham was bought at Rs 14.82 and sellers offered three paisa more at Rs 14.85, Saudi riyal started the day at Rs 14.48 and sellers were ready to offload their positions at Rs 14.52.

German mark was bought and sold at Rs 27.40 and Rs 27.70 in both morning and evening sessions.

Japanese yen opened at Re 0.497 (buying) and sellers were ready to offload their positions at Re 0.499.

Rawalpindi currency market portrayed a dull picture with thin volume in the greenback and other currencies. The market opened on a dull note and closed on negative note in the absence of buyers and sellers for a while, dealers stated.

The dollar and pound were bought and sold as that of Islamabad rates.