Rupee gains

The rupee managed to post mild gains against the dollar in the interbank market on Monday, dealers said. The rupee closed at 132.47/dollar, compared with the previous closing of 132.54. In the open market, the rupee lost its upward momentum on increased dollar demand. The local unit settled at 132 against the greenback. “The currency was range-bound. It should continue to be range-bound until an official statement on a Chinese bailout package for Pakistan is announced,” a dealer said.