20000331

ISLAMABAD

The buying and selling rates of US dollar against the rupee remained unchanged in currency markets of twin cities Islamabad and Rawalpindi amid moderate volume on Thursday.

The markets in Islamabad and Rawalpindi resumed trading with a stagnant greenback at Rs 54.20 as compared with the same overnight value. Sellers of the greenback offered five paisa more at Rs 54.25 as compared with the same previous rate.

Money changers said that markets started the day on a negative note following sluggish activity in the morning session. The trade volume slightly expanded in the evening session and market finally closed on a moderate note.

Major players and profit-seekers appeared to be waiting for some positive news on the economic front. Margin-hunters and speculative forces did not take fresh positions in the greenback or other hot favourite currency throughout the day. However, genuine buyers and sellers booked fresh deals in the second session.

Pound sterling soared by 20 paisa as it started the day at Rs 86.60 as compared with Wednesday's rate of Rs 86.40. British currency moved between the range of Rs 86.60 and Rs 86.70 and was sold at Rs 86.90.

Japanese yen was bought and sold at Re 0.51 and Re 0.512 respectively.

UAE dirham resumed trading at Rs 14.80 (buying) as compared with the same last rate. Dirham moved in a narrow band throughout the day and was finally sold at Rs 14.84. Saudi currency opened at Rs 14.46 and sellers offered two paisa more at Rs 14.48.

German currency was traded between Rs 26.50 and Rs 26.80 as the buyers offered the former rate while sellers were ready to square their positions at the later rate.