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ISLAMABAD

The dollar gained three paisa against the rupee in the money markets of Islamabad and Rawalpindi on Monday.

The markets of twin cities commenced the week with a comparatively better greenback at Rs 54.18 as compared to Saturday's Rs 54.15. The dollar was sold at Rs 54.23 as compared to last week's rate of Rs 54.20.

Money changers said that only genuine buyers and sellers booked deals in the morning session. The overall turnover slightly expanded in the evening session and the market finally closed on a firm note.

They attributed the fluctuation in rupee value to change in demand and supply factor for a while.

The trade volume of other currencies like pound, dirham and riyal also considerably expanded in the second spell.

Major players and speculative forces remained on the sidelines, as the present margin of profit was not attractive enough they added.

Pound sterling slightly lost its value in kerb as buyers offered Rs 86 and sellers were ready to offload their positions at Rs 86.25.

UAE dirham resumed trading at Rs 14.80 (buying) and was sold at Rs 14.82. Saudi riyal was bought and sold at Rs 14.46 and Rs 14.48, respectively.

Japanese yen opened at Re 0.515 and sellers offered Re 0.518.

German mark started the day at Rs 26.60 (buying) and was sold at Rs 27. The mark remained active throughout the day with healthy trading.