RECORDER REPORT
KARACHI: The rupee came under pressure slightly in terms of the dollar on the money market on Monday, dealers said.
INTER-BANK MARKET RATES: The rupee shed five paisas against the dollar for buying at Rs 110.45 while the national currency held the week-end level for selling at Rs 110.50, they said.
OPEN MARKET RATES: The rupee dropped by 20 paisas in relation to the dollar for buying and selling at Rs 110.00 and Rs 110.50 respectively, they said.
The rupee also followed the same pattern versus the euro, losing 90 paisas for buying at Rs 128.40 and it also shed 60 paisas for selling Rs 129.80, they added.
In the first Asian trade, the dollar held modest gains against the euro and yen on Monday, having received a lift after US tax reform efforts moved another step closer to ratification over the weekend.
The US currency had edged higher after Republicans on the House-Senate negotiating committee on Friday put the finishing touches on a sweeping tax overhaul that involves large corporate tax cuts.
The dollar's gains, however, were limited as investors adopted a wait-and-see approach until the deal was sealed.
The euro extended Friday's modest losses and dipped 0.05 percent to $1.1744.
The dollar was trading against the Indian rupee at Rs 64.13, the greenback was at 4.085 in terms of the Malaysian ringgit and the US currency was available at 6.612 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 82.65-82.65 (Previous 82.60-82.60).
========================
Open Bid Rs 110.00
Open Offer Rs 110.50
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
========================
Bid Rate Rs 110.45
Offer Rate Rs 110.50
========================
RUPEE IN LAHORE: The Pak rupee depreciated in relation to the major currencies including the American dollar and British pound in the local currency market on Monday.
According to currency dealers, the short supply phenomenon of the US dollar continued to prevail in the currency market which helped its appreciation at Rs 109.80 and Rs 110.70 for buying and selling, respectively, as compared to the last closing of Rs 109.50 and Rs 110.20 respectively.
Versus the pound sterling, the national currency also followed the same suit. The pound’s buying and selling rates rose from Saturday’s closing of Rs 143.80 and Rs 145.00 to Rs 145.00 and Rs 145.80 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 110.30 (buying) and Rs 110.50 (selling) against same last rate. It closed at Rs 110.30 (buying) and Rs 110.50 (selling).
