THE rupee managed to post gains against the dollar and the euro in the local currency market last week, overcoming jitters in global stock and commodity markets.

Nonetheless, a slowdown in trading activities was witnessed mid-week as the country reeled from the murderous assault on schoolchildren in Peshawar on December 16.

The rupee commenced the week on the interbank market with a gain of 27 paisas for buying and 29 paisas for selling, sending the dollar lower to Rs100.33 and Rs100.36 in the first trading session, from the prior week’s close of Rs100.60 and Rs100.65.

The rupee performed similarly in the open market, picking up 60 paisas to send the dollar down to Rs100.60 and Rs100.80 in the first trading session, from the prior week’s close of Rs101.20 and Rs101.40. The rupee also turned positive against the euro, gaining100 paisas on the day to send it at 124.75 and 125.00, against the previous week’s close of 125.75 and 126.00.

However, in the second trading session, the rupee shed 15 paisas for buying and 14 paisas for selling against the dollar in interbank dealings, pushing the greenback up at Rs100.48 and Rs100.50.

It went down 10 paisas in the open market as well, as the dollar rose to Rs100.70 and Rs100.90. The rupee also suffered a fall of 125 paisas against the euro, which rose to Rs126.00 and Rs126.25.

The dollar depreciated by around six paisas in the interbank market and by 65 paisas in the open market last week

In the third session, the rupee dipped by six paisas for buying and seven paisas for selling in the interbank market, and by 10 paisas in the open market. As a result, the dollar ended the day at Rs100.54 and Rs100.57 in the interbank market and at Rs100.80 and Rs101.00 in the open market.

However, the local currency managed to pick up 50 paisas against the euro, which slipped to Rs125.50 and Rs125.75.

The rupee then gained a further 10 paisas against the dollar on the interbank and 25 paisas in the open market in the fourth trading session, sending the greenback down to Rs100.44/100.47 and 100.55/100.75 respectively. It also posted a big rise of 175 paisas against the euro, which dropped to Rs123.75 and Rs124.00.

However, in the last trading session, the rupee lost 10 paisas for buying and nine paisas for selling in the interbank market, as the dollar closed the week at Rs100.54 and Rs100.56. The rupee-dollar parity remained unchanged in the open market at the prior day’s close of Rs100.55 and Rs100.75.

Meanwhile, the euro reportedly slipped to a three-year low of Rs123.50 and Rs123.75 on December 19 after it lost 25 paisas against the rupee in the final trading session.

During the week, the dollar depreciated by around six paisas in the interbank market and 65 paisas in the open market. The euro also suffered a weekly loss of 225 paisas against the rupee.

Published in Dawn, Economic & Business, December 22th , 2014