Firmness prevailed on the money market on Monday in the process of trading, dealers said. The rupee shed one paisa in relation to the greenback for buying and selling at Rs 104.82 and Rs 104.83 respectively, they said. In the first Asian trade, the euro tumbled in early Asian trade after Italian Prime Minister Matteo Renzi said he would resign after conceding defeat in a referendum over his plan to reform the constitution.
INTERBANK MARKET RATES: The euro dropped 1.3 percent to $1.0505, falling below its 1 1/2-year low of $1.0518 touched late last month, and testing its key support levels where the currency has managed to rebound in the past couple of years. A break below its 2015 March low of $1.0457 would send the currency to its lowest level since early 2003, opening a way for a test of $1, or parity against the dollar, a scenario which many market players now see as a real possibility.
The dollar was trading against the Indian rupee at Rs 68.15, the greenback was at 4.4470 in terms of the Malaysian ringgit and the US currency was at 6.8897 versus the Chinese yuan. Interbank buy/sell rates for the taka against the dollar on Monday: 78.78-78.80 (previous 78.75-78.75).
OPEN MARKET RATES: The rupee gained 30 paisas in term of the greenback for buying at Rs 106.50 and picked up 50 paisas for selling at Rs 106.70, however it shed 25 paisas against the euro for buying and selling at Rs 113.25 and Rs 114.75 respectively, they said.
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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.104.82
Offer Rate Rs.104.83
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RUPEE IN LAHORE: The Pakistani rupee failed to maintain upward trend against the US dollar in the local currency market on Monday.
According to currency dealers, the US dollar resumed trading on a positive note and remained strong during the day's trading. Following the buyers' interest, the dollar ended at Rs 106.40 and Rs 106.85 on buying and selling sides, respectively, as compared to last Saturday's closing rates of Rs 105.80 and Rs 106.00, respectively, they said.
Moreover, the local currency remained under pressure versus the pound sterling. The pound's buying and selling rates went up from its earlier closing rates of Rs 133.60 and Rs 135.00 to Rs 134.40 and Rs 135.20, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at currency markets of Islamabad and Rawalpindi here on Monday.
The dollar resumed trading at Rs 107 (buying) and Rs 107.50 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 107 (buying) and Rs 107.50 (selling).
Pound Sterling opened at Rs 135 (buying) and Rs 135.10 (selling) against same last week's rate. It did not observe further change in the second session and closed at Rs 135 (buying) and Rs 135.10 (selling).
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