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ISLAMABAD

The rupee maintained its firm position against the US dollar in the money markets of twin cites on Monday.

The Islamabad-Rawalpindi markets commenced the week with a moderate greenback at Rs 54.10 against same value of last week. The buying and selling rates of dollar remained unchanged by the end of second session and was sold at Rs 54.15.

Dealers stated that markets resumed trading on a healthy note following participation of genuine buyers and sellers in the morning session. The market remained in plus territory throughout the day and closed on a stable note.

They said that markets witnessed healthy activity in star currencies like dirham, riyal, pound and other European currencies. The overall turnover further expanded in the evening session as genuine buyers and margin hunters took fresh positions in the greenback and other currencies.

A leading money changer of Islamabad said that as expected, brisk trading was witnessed after two consecutive holidays last week. Speculative forces as well as margin hunters were back in arena which ultimately expanded the trade volume in both the sessions.

Pound sterling was minus by 60 paisa as it opened at Rs 86.40 as compared to previous value of Rs 87. The British currency moved between Rs 86.40 and Rs 86.50 and was sold at Rs 87.

UAE dirham was bought and sold at Rs 14.78 and Rs 14.82 respectively, Saudi currency opened (buying) at Rs 14.44 and sellers offered 4 paisa more at Rs 14.48.

Japanese yen was bought and sold at Re 0.501 and Re 0.503 respectively. The marginal fluctuation in the value of yen was due to its change in the international market against the dollar.

German mark shed 20 paisa as it opened at Rs 27.20 as compared to last Friday's value of Rs 27.40. Mark remained higher in the local kerb and was finally sold at Rs 27.40.