Sharp recovery was seen in the value of the rupee against the dollar on Monday in process of trading, dealers said. The rupee sustained it's overnight levels against the dollar for buying and selling at Rs 105.38 and Rs 105.40, they said.
INTER-BANK MARKET RATES: In the first Asian trade, the euro extended gains to a 2-1/2-year high against the dollar after the European Central Bank president held back from talking down the currency and as markets worried about the impact of Tropical Storm Harvey on the US economy.
The euro was 0.1 percent higher at $1.1929 after rising to $1.1966, its highest since January 2015. The common currency had already surged about 1 percent on Friday after ECB President Mario Draghi spoke at the Jackson Hole conference on subjects such as global trade but did not touch upon the euro's recent strength.
The dollar was trading against the Indian rupee at Rs 63.90, the greenback was available versus the Malaysian ringgit at 4.265 and the US currency was trading at 6.643 in relation to the Chinese yuan.
OPEN MARKET RATES: The rupee rose by 40 paisas in terms of the dollar for buying and selling at Rs 106.10 and Rs 106.40, they said.
The rupee also picked up 40 paisas versus the euro for buying and selling at Rs 125.20 an0 Rs 126.70, they said.
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Open Bid Rs.106.10
Open Offer Rs.106.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.105.39
Offer Rate Rs.105.40
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RUPEE IN LAHORE: The Pakistani rupee moved both ways versus the US dollar in the local currency market on Monday.
According to currency dealers, the dollar continued to fluctuate both ways amidst divergent trend in the local currency market.
Consequently, it ended at Rs 105.65 and Rs 106.10 on buying and selling side, respectively, as compared to Saturday's closing rates of Rs 106.00 and Rs 106.05 respectively, they added.
However, the local currency showed strength as it registered appreciation against the pound sterling. The pound's buying and selling rates drifted from last closing trend of Rs 134.80 and Rs 137.20 to Rs 134.50 and Rs 135.50 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the remained uncharged at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 107.10 (buying) and Rs 107.20 (selling) against same last rate. It closed at Rs 107.10 (buying) and Rs 107.20 (selling) in evening session.
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