The rupee managed to hold week-end levels against the dollar on the local currency market on Monday in the process of trading activity, dealers said. The rupee did not move any side versus the dollar for buying and selling at Rs 133.99 and Rs 134.00 respectively, dealers said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: In line with the inter-bank market trend, the rupee also stayed put in relation to the dollar for buying and selling at Rs 133.90 and Rs 134.20 respectively, they said. The domestic currency shed 50 paisas in terms of the euro for buying and selling at Rs 152.50 and Rs 154.00 respectively, they said.
In the first Asian trade, the dollar eased slightly versus other major currencies on Monday after Federal Reserve officials expressed caution over the global growth outlook, prompting traders to reassess the pace of future US interest rate increases.
The greenback has enjoyed a strong run this year thanks to the Fed's steady policy tightening on the back of a robust economy and rising wage pressures. A fourth rate hike for this year is expected next month and policy makers had indicated two more by June 2019.
But comments on Friday by Richard Clarida, the Fed's newly appointed vice chair, put to the test market expectations for a steady pace of tightening. Clarida cautioned about a slowdown in global growth, saying "that's something that is going to be relevant" for the outlook for the US economy.
The dollar index, a gauge of its value versus six major peers, traded marginally weaker at 96.45, adding to a decline of 0.5 percent on Friday. The dollar index had hit a 16-month high of 97.69 on Nov. 12.
The dollar was trading against the Indian rupee at Rs 71.960, the greenback was at 4.188 in terms of the Malaysian ringgit and the US currency was available at 6.944 versus the Chinese yuan.
========================
Open Bid Rs.133.90
Open Offer Rs.134.20
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
========================
Bid Rate Rs.133.99
Offer Rate Rs.134.00
========================
RUPEE IN LAHORE: The Pak rupee recovered on buying side while it stayed unchanged on selling side in relation to the US dollar in the local currency market on Monday.
According to currency dealers, the dollar failed to sustain as it depreciated by 25 paisas for buying at Rs 133.50 against the last closing rate of Rs 133.75 whereas it firmly held its opening trend for selling at Rs 134.40.
Moreover, the local currency moved both ways in process of trading against the pound sterling which was bought and sold at Rs 170.70 and Rs 172.00 as compared to the Saturday's closing rates of Rs 170.50 and Rs 172.30 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 15 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 133.90(buying) and Rs 134(selling) against last rate of Rs 133.75(buying) and Rs 133.85(selling). It closed at Rs 133.90(buying) and Rs 134(selling).
The buying and selling rates of one tola of gold were Rs 61,400(selling) and Rs 61,300(buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
Comments
Comments are closed.