The rupee managed to hold week-end's levels the dollar on Monday in the process of trading, dealers said. The rupee inched up by one paisa in relation to the dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee was unchanged against the dollar for buying and selling at Rs 106.10 and Rs 106.30 respectively, however it slipped by 10 paisas in terms of the euro for buying and selling at Rs 112.60 and Rs 114.10 respectively, they said.
In the first Asian trade, the dollar wobbled as some lacklustre US data and comments from Federal Reserve officials gave investors few catalysts to build on their US currency exposure.
The dollar index, which tracks the US currency against a basket of six major rivals, edged up slightly to 100.400. It notched a low of 98.858 last week, its weakest level since Nov 11, in the wake of US President Donald Trump's failure to get a healthcare reform bill passed last month. The dollar got some support last week from month-end buying and came off its lows, but overall its heaviness remains unchanged," said Mitsuo Imaizumi, Tokyo-based chief foreign-exchange strategist for Daiwa Securities.
This week, investors are waiting for Friday's non-farm payrolls report, and a worse-than-expected reading would push the dollar down more than a better-than-expected reading would push it up," he said, underscoring the already cautious expectations on the pace of further US rate hikes this year.
Economists polled by Reuters predict the US economy will have added 180,000 jobs in March. The Bank of Japan's "tankan" survey released on Monday showed that large Japanese manufacturers expected the dollar to average 108.43 in the fiscal year that began this month. The dollar stood at 111.34 yen on Monday, nearly flat on the day and below Friday's 10-day peak of 112.19 yen.
The dollar was trading against the Indian rupee at Rs 64.78, the greenback was at 4.4240 versus the Malaysian ringgit and the US currency was at 6.8835 in relation to the Chinese yuan.
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Open Bid Rs.106.10
Open Offer Rs.106.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.104.84
Offer Rate Rs.104.85
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RUPEE IN LAHORE: The Pakistani rupee registered appreciation against the foreign currencies including the American dollar and British pound in the local currency market on Monday.
According to currency dealers, the US dollar commenced trading on a negative note and remained under selling pressure throughout the trading session. At the close, it slid to Rs 106.10 and Rs 106.40 on buying and selling counters, respectively, as compared to Saturday's closing rates of Rs 106.15 and Rs 106.45 respectively, they added.
Similarly, the local currency also followed the same suit versus the pound sterling. The pound's buying and selling rates went down from the last closing trend of Rs 131.65 and Rs 132.50 to Rs 131.08 and Rs 132.08 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 106.50 (buying) and Rs 107 (selling). It closed at the same rate. Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It closed at the same rate.
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