THE rupee-dollar parity remained range-bound, trading between the high of Rs104.86/87 and low of Rs104.85/86 on the interbank market.

The week commenced with dollar traded flat against the rupee, retaining weekend levels unchanged at Rs104.85 and Rs104.86 in the first trading session.

Due to less than normal dollar demand in the second session, the parity remained unchanged at Rs104.85 and Rs104.86. In the third session, the rupee suffered minor losses due to a slight pickup in dollar demand and slipped by one paisa at Rs104.86 and Rs104.87.

The fourth session remained suspended due to banks closure on the first of Ramazan.

During May, the dollar appreciated against the rupee by 0.08pc

In the last session, the parity remained flat at Rs104.86 and Rs104.87. During the week, the dollar on the interbank market gained 10 paisas against the rupee in one session while traded unchanged in three sessions.

On a WoW basis, the rupee weakened by 10 paisas against the dollar. During May, the dollar appreciated against the rupee by 0.08pc, between the low of Rs104.78/80 and high of Rs104.86/88.

In the open market, the rupee remained firm in the first trading session, posting a 10 paisas gain and the parity was seen changing hands at Rs105.80 and Rs106.00 against prior weekend levels of Rs105.90 and Rs106.10.

The dollar remain depressed against the rupee in the second session as the parity retained its overnight rate, trading flat at Rs105.80 and Rs106.00. The dollar staged a rebound in the third session after the rupee posted a 10 paisas loss, enabling the dollar to close the session at Rs105.90 and Rs106.10.

In the fourth session, the parity maintained its overnight levels at Rs105.90 and Rs106.10 for the second successive day as the rupee traded unchanged.

The parity closed the week flat at Rs105.90 and Rs106.10, trading unchanged over last week. It did not show any change in the last trading session.

The rupee continued to escalate between the low of Rs118.50/Rs120.00 and high of Rs117.60/Rs119.10 versus euro last week.

The euro traded flat against the rupee in the first trading session at Rs118 and Rs119.50. It, however, failed to hold its firmness after the rupee posted a 40 paisas gain against the dollar and hit the week’s highest level against the euro at Rs117.60 and Rs119.10.

The euro rebounded in the third trading session after the rupee shed 70 paisas and 80 paisas on both the countres with euro changing hands at Rs118.30 and Rs119.90.

The rupee ended the week against the euro at Rs118.40 and 119.90, trading on a firm note. It posted 10 paisas recovery in the last trading session.

During the week, the euro gained 90 paisas in two sessions while the rupee managed to recover 50 paisas in three sessions. The euro managed to gain 40 paisas against the rupee on a WoW basis.

Published in Dawn, The Business and Finance Weekly, June 5th, 2017