RECORDER REPORT
KARACHI: A kind of firmness prevailed on the money market on Monday as the rupee almost sustained week-end levels against the dollar in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee slipped by one paisa in terms of the dollar for buying and selling at Rs 105.51 and Rs 105.52 respectively, they said.
In the first Asian trade, the dollar was broadly higher on Monday, reaching a 2-1/2-week peak against the yen, lifted after the US Senate approved a tax overhaul at the weekend.
The Senate's approval on Saturday moves Republicans and President Donald Trump a big step closer to their goal of slashing taxes in what would be the largest change to US tax laws since the 1980s.
The dollar has drawn support on expectations that tax cuts for corporations and the wealthy would stimulate the US economy, and also drive Treasury yields higher, as the government becomes more dependent on debt due to reduced tax income.
Talks will begin, likely this week, between the Senate and the House, which already has approved its own version of the legislation, to reconcile their respective bills.
The dollar was trading against the Indian rupee at Rs 64.46, the greenback was at 4.081 in terms of the Malaysian ringgit and the US currency was at 6.612 versus the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday: 82.30-82.30 (Previous 82.30-82.30).
OPEN MARKET RATES: The national currency was unchanged versus the dollar for buying and selling at Rs 107.30 and Rs 107.50 respectively, however it rose by 15 paisas versus the euro for buying and selling at Rs 126.60 and Rs 127.85 respectively, they said.
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Open Bid Rs.107.30
Open Offer Rs.107.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.105.51
Offer Rate Rs.105.52
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RUPEE IN LAHORE: The Pak rupee remained unchanged on buying side whereas it depreciated on selling side versus the US dollar in the local currency market on Monday.
According to currency dealers, the dollar commenced trading on its overnight closing of Rs 107.20 and Rs 107.50 as its buying and selling rates, respectively.
At close of trading, no change in its value took place for buying as it maintained its opening trend. However, it went up by 10 paisas for selling at Rs 107.60, they added.
Furthermore, the national currency maintained declining trend in relation to the pound sterling. The pound's buying and selling rates further rose from Saturday's closing of Rs 143.00 and Rs 144.00 to Rs 143.20 and Rs 144.20 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 107.40 (buying) and Rs 107.50 (selling) against same last rate. It closed at Rs 107.40 (buying) and Rs 107.50 (selling).
