RECORDER REPORT
KARACHI: The rupee appreciated against the dollar on the money market on Monday in the process of trading, experts said.
INTER-BANK MARKET RATES: The rupee was almost unchanged versus the dollar for buying and selling at Rs 110.57 and Rs 110.58 respectively, they said.
In the first Asian trade, the dollar fell against most currencies on Friday, dropping to its lowest in more than two years against the yen, as President Donald Trump's proposal to impose hefty tariffs on steel and aluminum imports raised prospects of a trade war that could damage the US economy.
Friday's sell-off came just as the dollar had risen to multi-week highs amid strong data and an upbeat view on the economy from Federal Reserve Chairman Jerome Powell, which reinforced expectations of three or more interest rate hikes this year.
In the first Asian trade, the euro clawed back earlier losses on Monday but remained prone to volatility as early counts in Italian elections pointed to stronger-than-expected results for euro-sceptic parties, with no major party blocs winning an outright majority.
The common currency found some support as Germany's Social Democrats (SPD) decisively backed another coalition with Chancellor Angela Merkel's conservatives.
The euro traded at $1.2333, slightly above its late US levels, off its seven-week low of $1.21545, which it touched on Thursday.
The dollar was trading against the Indian rupee at 65.033, the greenback was at 3.897 in terms of the Malaysian ringgit and the US currency was 6.334 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 82.96-82.96 (Previous 82.96-82.96).
OPEN MARKET RATES: The rupee appreciated in relation to the dollar for buying and selling at Rs 111.70 and Rs 112.00 respectively, they said. The rupee picked up 10 paisas in relation to the euro for buying and selling at Rs 137.30 and Rs 138.80 respectively, they added.
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Open Bid Rs.111.70
Open Offer Rs.112.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.110.57
Offer Rate Rs.110.58
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RUPEE IN LAHORE: The Pak rupee failed to sustain as it registered reduction versus the greenback in the local currency market on Friday.
According to currency dealers, the greenback resumed trading on a positive note following fresh buyers' interest in the market. As a result, it appreciated by 10 paisas and ended higher at Rs 111.90 and Rs 112.20 for buying and selling, respectively, as compared to the overnight closing trend of Rs 111.80 and Rs 112.20 respectively, they added.
Moreover, the national currency moved both ways in terms of trading against the pound sterling. The British currency was bought and sold at Rs 153.30 and Rs 154.10 against Rs 153.10 and Rs 154.90 of Thursday, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI:
The dollar opened at Rs 112 (buying) and Rs 112.10 (selling) against last rate of Rs 111.70 (buying) and Rs 111.80 (selling). It closed at Rs 112 (buying) and Rs 112.10 (selling).
