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ISLAMABAD

The dollar-rupee parity remained unchanged in the open currency markets of Islamabad and Rawalpindi on Monday.

The market commenced the week with a stable greenback at Rs 53.95 as compared to same last rate. The rupee remained pegged and was sold at Rs 54.05.

Money changers stated that the market started the day on a dull note, as major buyers of the greenback appeared to be out of the ring for a while. The market continued to show lackluster activity in the evening session and was closed lower.

They said that shortage of local currency in the kerb resulted in a comparatively better greenback against the rupee. The rupee will definitely rebound in the present economic situation in the country plus determination of the government to stabilise the rupee.

Pound sterling was bought and sold at Rs 89.20 and Rs 89.40 respectively as it did not observe significant fluctuation in both sessions.

UAE dirham opened at Rs 14.73 as compared to same rate of Saturday. Dirham remained higher and was sold at Rs 14.77. Saudi currency resumed trading at Rs 14.38 and was sold at Rs 14.42.

German mark opened at Rs 27.70 as compared to last Saturday's rate of Rs 27.85. Mark portrayed a stable picture in the kerb and was sold at Rs 28.

Japanese yen started the day at Re 0.511 and was sold at Re 0.514.

Rawalpindi money market behaved divergently as it resumed trading on a firm note and remained in positive territory throughout the day. Dealers stated that the market opened on a healthy note following active trading in the dollar, pound, riyal and other major currencies. The overall turnover further expanded in the second session and the market closed with positive sentiment. Large number of people visited the market on the first trading day of the week.

Dollar and pound were bought and sold at the Islamabad rates, they added.