THE RUPEE: weak trend

An easier trend persisted on the local money market on Monday as the rupee tended lower in relation to the dollar in process of trading, dealers said. The rupee did not show any change versus the US currency for buying and selling at Rs 124.24 and Rs 124.25, they added.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee was 30 paisas in terms of the dollar for buying at Rs 124.30 while it dropped by 10 paisas for selling at Rs 124.60, they said.
The rupee also lost 55 paisas in relation to the euro for buying and selling at Rs 143.25 and Rs 144.75, they said.
In the first Asian trade, the dollar edged higher against a basket of currencies on Monday thanks to strong US August jobs data and amid fears of a potentially major escalation in the China-US trade conflict.
US President Donald Trump warned on Friday that he was ready to slap tariffs on virtually all Chinese imports into the United States, threatening duties on another $267 billion of goods in addition to the $200 billion already facing the risk of duties.
The dollar index, which measures the greenback against a basket of six currencies, traded about 0.1 percent higher at 95.425 as of 0310 GMT, moving toward a three-week high of 95.737 hit on Tuesday last week.
The dollar was trading against the Indian rupee at Rs 72.388 and the greenback was available at 6.860 in terms of the Chinese yuan.

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Open Bid       Rs.124.30

Open Offer     Rs.124.60

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

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Bid Rate       Rs.124.24

Offer Rate     Rs.124.25

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RUPEE IN LAHORE: The Pak rupee moved both ways against the US dollar in the local currency market on Monday.
According to currency dealers, the dollar resumed trading on a fluctuating note following divergent trend of buyers in the market. As a result, it ended for buying and selling at Rs 124.30 and Rs 124.80 against last closing rates of Rs 124.15 and Rs 125.00 respectively, they added.
In addition, the local currency stayed unchanged against the pound sterling for buying at Rs 160.00 whereas it declined by 50 paisas for selling at Rs 161.50, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 20 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 124.10 (buying) and Rs 124.20 (selling) against last rate of Rs 124.30 (buying) and Rs 124.40 (selling). It closed at Rs 124.10 (buying) and Rs 124.20 (selling).
Copyright Business Recorder, 2018