Falling trend was witnessed on the currency market on Monday in the process of trading activity, experts said. The rupee shed 15 paisas in terms of the dollar for buying at Rs 115.45, while the national currency stayed put for selling at Rs 115.50, they said.
INTER-BANK MARKET RATES: In the first Asian trade, the dollar slipped to a 16-month low against the yen on Monday, pressured by lingering fears of a global trade war and a political crisis that has engulfed Japanese Prime Minister Shinzo Abe.
The US currency traded at 104.955 yen after falling to 104.560, it's weakest since November 2016.
The dollar had already slumped 1.2 percent versus its Japanese peer last week as escalating trade tensions between the United States and China stoked concerns about global growth.
Global markets were shaken after US President Donald Trump moved to impose tariffs on Chinese goods, edging the world's two largest economies closer to a trade war.
Views that Japan's political scandal could deepen was also seen lifting the yen, with a key figure in a cronyism controversy gripping Abe due to testify in parliament on Tuesday.
The dollar was trading against the Indian rupee at Rs 64.905, the greenback was at 3.903 in relation to the Malaysian ringgit and the US currency was available at 6.314 in terms of the Chinese yuan.
OPEN MARKET RATES: The rupee drifted lower by 20 paisas in relation to the dollar for buying and selling at Rs 114.40 and Rs 115.40 respectively, they said. The rupee dropped sharply verses the euro for buying and selling at Rs 140.30 and Rs 142.00 respectively, they added.
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Open Bid Rs.114.40
Open Offer Rs.115.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.115.45
Offer Rate Rs.115.50
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RUPEE IN LAHORE: The Pak rupee depreciated in terms of trading against the major foreign currencies including the American dollar and British pound in the local currency market on Monday.
According to currency dealers, the short supply phenomenon of the US dollar prevailed throughout the trading session which helped its further appreciation for buying and selling at Rs 114.80 and Rs 115.30 as compared to the last closing trend of Rs 114.20 and Rs 115.20 respectively.
Versus the pound sterling, the local currency also followed the same suit. Resultantly, the pound's buying and selling rates moved up from last closing trend of Rs 158.80 and Rs 160.00 to Rs 160.60 and Rs 161.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of dollar against the rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 115 (buying) and Rs 115.20 (selling) against same last rate. It closed at Rs 115 (buying) and Rs 115.20 (selling).
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