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An easier trend persisted on the local currency market on Monday, dealers said. The rupee moved in a narrow range in relation to the greenback for buying and selling at Rs 104.83 and Rs 104.84 respectively, they said.
INTERBANK MARKET RATES: In the first Asian trade, Most emerging Asian currencies rose on Monday as the dollar retreated from a near 14-year high with sliding oil prices dragging U.S. Treasury yields lower, while doubts remained over further appreciation in regional units.
China's yuan advanced as state-owned banks were seen selling the dollar in the onshore currency market, traders said. That came after a central bank vice governor said on Sunday that current conditions point to a stabilisation of the renminbi after its recent volatility. The dollar was trading against the Indian rupee at 68.61, the greenback was available at 4.4570 in terms of the Malaysian ringgit and the US currency was at 6.9018 versus the Chinese yuan.
OPEN MARKET RATES: The rupee extended week-end losses versus the dollar, losing 25 paisas in term of the greenback for buying and selling at Rs 107.40 and Rs 107.60 respectively, dealers said. The local currency also depreciated by 35 paisas against the euro for buying and selling at Rs 114.60 and Rs 116.10 respectively, they said.



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Open Bid Rs.107.40
Open Offer Rs.107.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.



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Bid Rate Rs.104.83
Offer Rate Rs.104.84
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RUPEE IN LAHORE: The Pakistani rupee remained under pressure against the foreign currencies including the American dollar and British pound on the local currency market on Monday.
According to currency dealers, the trading of the US dollar resumed on a positive note due to buyers' interest in the market. At close of trading, the dollar further ended higher at Rs 107.60 and Rs 107.90 on buying and selling sides, respectively, as compared to its Saturday's closing rates of Rs 107.30 and Rs 107.75, they added.
Versus the pound sterling, the local currency also followed the same suit. The pound's buying and selling rates further improved from its day earlier closing rates of Rs 133.60 and Rs 134.60 to Rs 134.10 and Rs 134.90, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at local currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 105 (buying) and Rs 105.10 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 105 (buying) and Rs 105.10 (selling).
Pound Sterling opened at Rs 132 (buying) and Rs 133 (selling). It did not observe further change in the second session and closed at Rs 132 (buying) and Rs 133 (selling).
Copyright Business Recorder, 2016

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