BR RESEARCH
KARACHI: The rupee recovered sharply versus the dollar on the money market on Monday in the process of trading, marketmen said.
OPEN MARKET RATES: The rupee picked up 50 paisas in terms of the dollar for buying at Rs 159.00 and it also picked one rupee for selling at Rs 160.00, they said. The rupee also gained one rupee in relation to the euro for buying and selling at Rs 178.00 and Rs 182.00 respectively, they said.
In the first Asian trade, the dollar gained 0.5% against the yen on Monday after the United States and China agreed on Saturday to restart trade talks as US President Donald Trump offered concessions on new tariffs and restrictions on tech company Huawei.
The dollar rose to 108.48 yen, extending its recovery from the near six-month low of 106.78 set last Tuesday while it also rose 0.3% against the Swiss franc, another safe haven currency, to 0.97935 franc.
The dollar was trading against the Indian rupee at Rs 68.903, the greenback was at 4.133 versus the Malaysian ringgit and the US currency was at 6.839 in terms of the Chinese yuan.
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Open Bid Rs.159.00
Open Offer Rs.160.00
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RUPEE IN LAHORE: The Pak rupee showed stability as it appreciated its worth versus the major foreign currencies including the greenback and the British pound in the local currency market on Monday.
Following lack of buyers' interest in the market, the greenback could not sustain and ended lower for buying and selling at Rs 159.80 and Rs 161.00 against the previous closing trend of Rs 160.10 and Rs 161.50 respectively, local currency dealers said.
Likewise, the local currency also followed the same suit in process of trading against the pound sterling. Consequently, the pound's buying and selling rates slipped from the Saturday's closing of Rs 200.00 and Rs 204.00 to Rs 198.50 and Rs 200.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 10 paisa against the rupee at the local currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 161.60 (buying) and Rs 161.70 (selling) against last rate of Rs 161.50 (buying) and Rs 161.60 (selling). It closed at Rs 161.60 (buying) and Rs 161.70 (selling).
The buying and selling rates of one tola of gold was Rs 83,310 (selling) and Rs 83,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
