The rupee moved both ways against the dollar on the money market on Monday ahead of Eid-ul-Fitr long holidays, dealers said. The rupee shed five paisas versus the dollar for buying at Rs 148.50 and it lost 15 paisas for selling at Rs 148.70, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee picked up 20 paisas in terms of the dollar for buying and selling at Rs 147.80 and Rs 148.80 respectively, they said. The rupee fell against the euro for buying and selling at Rs 164.00 and Rs 167.50 respectively, they said.
In the first Asian trade, the yen brushed a more than four-month high against the dollar on Monday and the Swiss franc rose as US President Donald Trump's hard stance on trade broadened to countries beyond China, stoking investor demand for safe-haven assets.
With trade issues remaining front-and-centre, investor appetite for risk has been dampened by fears of a global growth slowdown that has helped stoke demand for government debt and triggered an equity sell-off.
Perceived safe-haven assets were well supported despite a private survey on the Chinese manufacturing sector pointing to a modest expansion in factory activity as export orders bounced from a contraction.
The dollar was trading against the Indian rupee at Rs 69.445, the greenback was at 4.179 in terms of the Malaysian ringgit and the US currency was available at Rs 6.903 in relation to the Chinese yuan.
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Open Bid Rs 147.80
Open Offer Rs 148.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs 148.50
Offer Rate Rs 148.70
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RUPEE IN LAHORE: The Pak rupee showed stability and stayed unchanged against the US dollar in the local currency market on Monday.
According to the currency dealers, the dollar resumed trading at its last week closing of Rs 146.00 and Rs 147.50 as its buying and selling rate, respectively. The dollar did not observe any change in its demand and supply that helped its stability in the open market. As a result, the opening rates continued to prevail throughout the day.
On the contrary, the rupee maintained last week downward move and remained under pressure against the pound sterling. The pound's buying and selling rate was improved from the last Saturday's closing of Rs 183.00 and Rs 184.80 to Rs 183.80 and Rs 185.60, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained Rs 1 against the rupee at the local currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 149(buying) and Rs 149.10(selling) against last rate of Rs 148(buying) and Rs 148.10(selling). It closed at Rs 149(buying) and Rs 149.10(selling).
The buying and selling rates of one tola of gold was Rs 69,800 (selling) and Rs 69,500 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
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