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ISLAMABAD

The rupee lost 2 paisa against the dollar in the money markets of Islamabad and Rawalpindi on Monday.

The market commenced the week with a firm American unit at Rs 54.24, compared to last weekend rate of Rs 54.22. The dollar was sold at Rs 54.28, as compared to previous rate of Rs 54.27.

Currency dealers said that genuine buyers and sellers visited the local kerb in the morning session. Fresh deals were booked in the second session.

They said that constant supply of greenback resulted in a balanced demand and supply situation.

Leading currency dealers of Islamabad had comparatively better turnover with the participation of genuine buyers.

Trade volume of other currencies like pound, dirham, and riyal considerably expanded.

The pound shed 10 paisa at Rs 86.40, as compared to last Friday's rate of Rs 86.50. It moved in the range of Rs 86.40 to Rs 86.50 and was sold at Rs 86.70.

UAE dirham was bought at Rs 14.80 as compared to Friday's Rs 14.81. The dirham remained in the kerb was sold at Rs 14.82, as compared to last rate of Rs 14.83.

Saudi riyal sellers offered 2 at Rs 14.48.

Japanese yen resumed trading at Re 0.52 as compared to previous rate of Re 0.508 and was sold at Re 0.53 as compared to previous rate of Re 0.51.

German mark started the day at Rs 26.70 as compared to last rate of Rs 26.75. The German unit in the second was sold at Rs 27.