All-round slides were seen on the money market on Monday as the rupee failed to show any improvement versus the dollar in the process of trading, currency experts said. The rupee moved slightly in relation to the dollar for buying and selling at Rs 110.57 and Rs 110.58 respectively, they said.
INTER-BANK MARKET RATES: In the first Asian trade, the dollar found some traction on Monday following last week's steep fall and managed to hold above a three-year low against a basket of currencies.
The dollar index against a group of six major peers was mostly steady at 89.045 after enjoying a modest bounce on Friday following its descent to 88.253, its lowest since December 2014.
The US currency has been weighed down by a variety of factors this year, including concerns that Washington might pursue a weak dollar strategy and the perceived erosion of its yield advantage as other countries start to scale back easy monetary policy.
The dollar was trading against the Indian rupee at Rs 64.210 and the greenback was at 3.88 in terms of the Malaysian ringgit. Inter bank buy/sell rates for the taka against the dollar on Monday: 82.94-82.94 (Previous 82.94-82.94).
OPEN MARKET RATES: The rupee gave up 10 paisas in relation to the dollar for buying and selling Rs 111.40 and Rs 111.70 respectively, they said.
The rupee also shed 20 paisas against the euro for buying and selling at Rs 137.50 and Rs 139.00 respectively, they added.
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Open Bid Rs.111.40
Open Offer Rs.111.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.110.57
Offer Rate Rs.110.58
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RUPEE IN LAHORE: The Pak rupee stayed unchanged on buying side while it depreciated on selling side in relation to the greenback in the local currency markets on Monday.
According to currency dealers, the greenback commenced trading on its last closing of Rs 111.40 and Rs 111.75 as its buying and selling rates, respectively. At the close, it firmly held its opening trend for buying at Rs 111.40. However, it appreciated by 10 paisas for selling at Rs 111.85, they added.
Furthermore, the national currency witnessed divergent trend as it moved both ways in process of trading against the pound sterling. The British currency was bought and sold at Rs 155.00 and Rs 155.70 against Saturday's closing rates of Rs 154.90 and Rs 155.90 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 111.55 (buying) and Rs 111.65 (selling) against same last week's rate. It closed at Rs 111.55 (buying) and Rs 111.65 (selling).
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