THE RUPEE: stable trend

The rupee did not move any side in relation to the dollar on the money market, dealers said on Monday. The rupee was firm against the dollar for buying and selling Rs 115.61 and Rs 115.62, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee was unchanged in terms of the dollar for buying and selling at Rs 117.30 and Rs 117.80, they said. The national currency lost 45 paisas versus the euro for buying and selling, they said.
In the first Asian trade, the dollar's recent rally ran out of steam on Monday with U.S. yields sinking as investors wound back expectations that the U.S. Federal Reserve will launch a series of rapid rate hikes this year.
The dollar index against a basket of six major currencies was down 0.15 percent at 92.402.
The index hit a 4-1/2-month high of 93.416 last Wednesday, as a rise in US Treasury yields highlighted the wide interest rate gap between the United States and other countries.
The dollar was trading against the Indian rupee at Rs 67.283, the greenback was at 3.946 versus the Malaysian ringgit and the US currency was at 6.340 in relation to the Chinese yuan.

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Open Bid       Rs.117.30

Open Offer     Rs.117.80

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.

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Bid Rate       Rs.115.61

Offer Rate     Rs.115.62

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RUPEE IN LAHORE: The Pak rupee registered reduction versus the major currencies including the greenback and the British pound in the local currency market on Monday.
The short supply phenomenon of the greenback prevailed throughout the trading session which helped its further appreciation for buying and selling at Rs 117.40 and Rs 117.80 as compared to the last closing rates of Rs 117.20 and Rs 117.75 respectively, local currency dealers said.
Similarly, the local currency also followed the same suit in terms of trading against the pound sterling. Consequently, the pound's buying and selling rates rose from Saturday's closing trend of Rs 157.70 and Rs 158.50 to Rs 158.50 and Rs 159.30, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 117.50 (buying) and Rs 118 (selling) against same last rate. It closed at Rs 117.50 (buying) and Rs 118 (selling).
Copyright Business Recorder, 2018