The rupee could not maintain its firmness versus the dollar on the money market on Monday, dealers said. The rupee shed three-paisa against the dollar for buying and selling at Rs 104.93 and Rs 104.95 respectively due to rising demand of the US currency, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee lost 10-paisa in terms of the dollar for buying at Rs 106.50 and five-paisa for selling at Rs 106.70. It also dropped by 20-paisa against the euro for buying and selling at Rs 116.00 and Rs 117.00 respectively, they added.
In the first Asian trade, the yen nursed broad losses and the euro was also on the defensive after the Bank of Japan (BoJ) adopted negative interest rates and sent bond yields sliding across the globe and particularly in Europe. The dollar was up 0.2 percent at 121.30 yen, after having jumped nearly 2 percent on Friday - its biggest one-day rally in over a year.
The yen received little help from Chinese economic data, which were not impressive but not poor enough to revive safety flows into the Japanese currency. Safe-haven flows into the yen driven by steep falls in global equities and crude oil took the dollar to a one-year trough below 116 in January, and some saw last week's shock BOJ easing directed towards arresting the yen's appreciation. The dollar was trading against the Indian rupee at Rs 67.65, the US currency was at 4.1550 in terms of the Malaysian ringgit and the greenback was at 6.5793 in relation to the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday: 78.50-78.55 (previous 78.50-78.50).
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Open Bid Rs.106.50
Open Offer Rs.106.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.104.93
Offer Rate Rs.104.95
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RUPEE IN LAHORE: The rupee appreciated against the US dollar on the money market on Monday in the process of trading. The dollar did resume trading at its week-end closing of Rs 106.70 and Rs 106.95. It did end slightly lower at Rs 106.65 and Rs 106.90 on buying and selling.
The rupee was strong on buying side as it remained unchanged on selling against the pound sterling, which was traded at Rs 152.50 and Rs 153.50 on buying and selling as compared with the last Saturday closing of Rs 152.55 and Rs 153.50.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar further gained strength against the Pak rupee at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (selling). Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).
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