BR RESEARCH
KARACHI: Firm trend seen on the currency market on Monday as the rupee managed to keep present levels against the dollar in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee showed modest fluctuations versus the dollar for buying and selling at Rs 156.05 and Rs 156.10 respectively, they said.
OPEN MARKET RATES: The rupee picked up 10 paisas against the dollar for buying and selling at Rs 155.70 and Rs 156.20 respectively, they said. The rupee was available in terms of the euro for buying and selling at Rs 171.30 and Rs 173.30 respectively, they said.
In the first global market, the dollar held near a 2-1/2-month high against the yen on Monday on signs of progress in US-China trade talks, while sterling's rally ran out of steam after touching a 3-month peak on hopes for an orderly British exit from the European Union.
On Friday, the dollar strengthened against the safe-haven yen to as high as 108.63 yen, its highest since August 1, before US President Donald Trump said the United States and China had reached a ‘Phase 1’ trade deal.
The dollar was trading against the Indian rupee at Rs 70.868, the greenback was at 4.178 in terms of the Malaysian ringgit and the US currency was available at 7.055 versus the Chinese Yuan.
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Open Bid Rs.155.70
Open Offer Rs.156.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.156.05
Offer Rate Rs.156.10
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RUPEE IN LAHORE: The Pak rupee recovered its earlier losses versus the American dollar and the British pound in the local currency market on Monday.
Following lack of buyers’ interest in the market, the dollar slightly decreased its worth and ended lower for buying and selling at Rs 155.90 and Rs 156.35 against the previous closing rate of Rs 156.00 and Rs 156.40 respectively, local currency dealers said.
Similarly, the national currency also followed the suit in relation to the pound sterling. Consequently, the pound’s buying and selling rates slid from the Saturday’s closing of Rs 195.70 and Rs 197.10 to Rs 194.60 and Rs 196.00 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 30 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 156.40(buying) and Rs 156.50(selling) against last rate of Rs 156.70(buying) and Rs 156.80(selling).
It closed at Rs 156.40(buying) and Rs 156.50(selling).
The buying and selling rates of one tola of gold were Rs. 87,200 (selling) and Rs 87,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
