An easier trend prevailed on the money market on Monday as the rupee shed its value against the dollar in the process of trading activity, dealers said.
OPEN MARKET RATES: The rupee lost 20 paisas in terms of the dollar for buying and selling at Rs 117.20 and Rs 117.70 respectively, they said. The national currency also lost 10 paisas versus the euro for buying and selling at Rs 137.80 and Rs 139.30 respectively, they said.
INTER-BANK MARKET RATES: The rupee dropped by three paisas in relation to the dollar for buying and selling Rs 115.61 and Rs 115.62 respectively, they said.
In the first Asian trade, the dollar advanced against the yen on Monday, after US Treasury Secretary Steven Mnuchin said the US trade war with China is "on hold", boosting risk sentiment amid hopes for an easing of trade tensions between the world's two biggest economies.
The dollar rose 0.5 percent to 111.245 yen, hitting a fresh four-month high in Asian trade.
The easing of US-China trade tensions is likely to underpin riskier assets such as equities and bodes well for the dollar against the safe-haven yen, said Stephen Innes, head of trading in Asia-Pacific for Oanda in Singapore.
Japan is the world's largest creditor nation and traders tend to assume Japanese investors would repatriate funds at times of crisis, thus pushing up the yen. The Japanese currency often weakens when investor confidence increases and their appetite for riskier assets strengthens.
The dollar was trading against the Indian rupee at Rs 68.080, the greenback was available at 3.974 in terms of the Malaysian ringgit and the US currency was at 6.381 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Monday: 83.70-83.70 (Previous 83.65-83.65).
OPEN MARKET RATES: The rupee dropped by 10 paisas in relation to the dollar for buying and selling Rs 111.50 and Rs 111.80 respectively, however it gained 70 paisas against the euro for buying and selling at Rs 136.80 and Rs 138.30 respectively, they added.
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Open Bid Rs 117.20
Open Offer Rs.117.70
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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 moved both ways in relation to the greenback in the local currency market on Monday.
According to currency dealers, the trading activity of the greenback resumed on a divergent note following fluctuating interest of buyers in the market. At the close, it ended for buying and selling at 117.30 and Rs 117.90 as compared to the last closing trend of Rs 117.40 and Rs 117.80 respectively, they added.
In addition, the local currency showed strength as it appreciated by 10 paisas against the pound sterling. The pound's buying and selling rates slid from Saturday's closing of Rs 157.30 and Rs 158.10 to Rs 157.20 and Rs 158.00 respectively, they said.
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 resumed trading at Rs 117.50 (buying) and Rs 118 (selling) against same rate of last week. It closed at Rs 117.50 (buying) and Rs 118 (selling).
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