A downward trend was witnessed on the money market on Monday as the rupee dropped modesty versus the dollar in process of trading activity, money experts said. The rupee did not move sharply in terms of the dollar for buying and selling at Rs 115.49 and Rs 115.51, they said.
INTER-BANK MARKET RATES: In the first Asian trade, the dollar held steady against the yen on Monday, taking a breather after last week's rally and as it treads cautiously amid lingering concerns over a US-China trade spat.
The dollar last traded at 106.32 yen, after having risen more than 1.5 percent last week for its biggest weekly gain since September 2017.
The US currency had risen against the yen last week, helped by signs China and the United States were working behind the scenes to avoid a full-blown trade war, and hopes for a diplomatic breakthrough over North Korea's nuclear programme.
The resulting uptick in risk appetite weighed on the safe-haven yen, a currency that tends to rise during times of market turmoil and vice versa.
Given the simmering US-China trade tensions, however, some analysts say the dollar's gains against the yen may be limited in the near term.
China has slapped extra tariffs of up to 25 percent on 128 US products including frozen pork, as well as on wine and certain fruits and nuts, in response to US duties on imports of aluminium and steel, China's finance ministry said.
The tariffs, to take effect on Monday, match a list of potential tariffs on up to $3 billion in US goods published by China on March 23.
The dollar was trading against the Malaysian ringgit at 3.863 and the greenback was at 6.281 versus the in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday: 82.96-82.96 (Previous 82.96-82.96).
OPEN MARKET RATES: The rupee gave up weekend's gains against the dollar, shedding 10 paisas in relation to the dollar for buying and selling at Rs 115.80 and Rs 116.30, they said. While, the rupee sustained it's levels in relation to the euro for buying and selling at Rs 141.00 and Rs 142.80, they added.
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Open Bid Rs.115.80
Open Offer Rs.116.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.115.49
Offer Rate Rs.115.51
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RUPEE IN LAHORE: The Pak rupee failed to sustain its earlier recoveries 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 116.00 and Rs 116.50 as compared to the last closing trend of Rs 115.90 and Rs 116.30 respectively.
Versus the pound sterling, the local currency also followed the same suit in terms of trading. Resultantly, the pound's buying and selling rates rose from Saturday's closing of Rs 160.10 and Rs 160.75 to Rs 161.10 and Rs 162.30 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee further gained 10 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 115.70 (buying) and Rs 115.80 (buying) against last rate of Rs 115.80 (buying) and Rs 115.90 (buying). It closed at Rs 115.70 (buying) and Rs 115.80 (buying).
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