An easier trend was witnessed on the money market on Monday as the rupee drifted lower versus the dollar and euro as well, dealers said. The rupee moved down slightly in relation to the dollar, losing five paisa for buying and selling at Rs 100.65 and Rs 100.85, they said. The rupee also extended its fall versus the euro, falling 25 paisa for buying at Rs 131.00 and Rs 131.25 respectively, they said.
OPEN MARKET RATES: Rates of interbank market were not issued on Monday due to bank closing, dealers said. In the first Asian trade, the dollar was broadly firm as traders greeted the start of a new quarter that could see the US Federal Reserve beginning to wind down its stimulus, even as other major central banks are expected to maintain their super-easy monetary policy.
The Australian dollar touched near three-year lows versus the US dollar, though it managed to stage a modest comeback in the wake of a less dire-than-expected reading on China's manufacturing sector. The dollar was trading against the Indian rupee at Rs 59.01, the greenback was at 3.1590 versus the Malaysian ringgit and the US currency was available at 6.132 in terms of the Chinese yuan.
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Open Bid Rs 100.65
Open Offer Rs 100.85
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Open Market Rate: Open Market Rate For Dollar on Monday.
RUPEE IN LAHORE: The Pak rupee recovered some of its earlier loss and gained 10-paisa against the US dollar on the local currency market on Monday. According to the currency dealers, the dollar commenced trading on a depressed note and remained under pressure in the absence of buying support. The dollar was ended lower at Rs 100.60 and Rs 100.90 as its buying and selling rates against Rs 100.70 and Rs 101.00 of last Saturday, respectively. Similarly, the rupee showed strength and was appreciated against the British pound. The pound's buying and selling rates were slide down from last week closing of Rs 153.00 and Rs 154.00 to Rs 152.50 and Rs 153.00, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Monday. The dollar opened at Rs 101 (buying) and Rs 101.10 (selling) against last rate. It did not observe further change in the second session and closed at Rs 101 (buying) and Rs 101.10 (selling). Pound Sterling opened at Rs 153 (buying) and Rs 155 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.
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