Steady trend

The rupee managed to hold present levels in relation to the dollar as supply was matching with demand during the week, ended on February 22, 2020.

INTER-BANK MARKET RATES: The rupee picked up nine paisas versus the dollar for buying and selling at Rs 154.18 and Rs 154.20.

OPEN MARKET RATES: The rupee firmly held the last levels in terms of the dollar for buying and selling at Rs 154.10 and at Rs 154.40. The rupee shed slightly in terms of the euro for buying and selling at Rs 166.50 and Rs 168.00.

Marketmen attributed the rupee's stability to easy supply of the greenback during the last sessions.

According to the State Bank of Pakistan (SBP), country's foreign exchange reserves reached at 12.5 billion dollars, it would make an availability of the US dollars in the near future.

INTER-BANK MARKET RATES: On Monday, the rupee was trading versus the dollar for buying and selling at Rs 154.26 and Rs 154.29. On Tuesday, the rupee moved up versus the dollar for buying and selling at Rs 154.20 and Rs 154.25, they said.

On Wednesday, the rupee dropped six paisas versus the dollar for buying at Rs 154.26 and it also shed three paisas for selling Rs 154.28, they said.

On Thursday, the rupee gave up overnight weakness picking up four paisas versus the dollar for buying and selling at Rs 154.23 and Rs 154.25. On Friday, the rupee managed to gain five paisas versus the dollar for buying and selling at Rs 154.18 and Rs 154.20.

OPEN MARKET RATES: On February 17, the rupee picked up 10 paisas in terms of the dollar for buying and selling at Rs 154.10 and Rs 154.40. The rupee also did not move any side in terms of the euro for buying and selling at Rs 166.30 and Rs 167.80. On February 18, the rupee was unchanged in terms of the dollar for buying and selling at Rs 154.20 and Rs 154.50. The rupee also did not move any side in terms of the euro for buying and selling at Rs 166.50 and Rs 168.00.

On February 19, the rupee was unchanged in terms of the dollar for buying and selling at Rs 154.10 and Rs 154.40 respectively, they said. The rupee gained 50 paisas in terms of the euro for buying and selling at Rs 165.80 and Rs 167.30.

On February 20, the rupee retained last levels in terms of the dollar for buying and selling at Rs 154.10 and Rs 154.40, they said. The rupee moved with slight changes in terms of the euro for buying and selling at Rs 165.75 and Rs 167.50.

On February 21, the rupee after maintaining a stable for some time, reacted positively in terms of the dollar, picking up 10 paisas for buying and selling at Rs 154.00 and Rs 154.30. The rupee was unchanged in terms of the euro for buying and selling at Rs 165.75 and Rs 167.25.

On February 22, the rupee shed 10 paisas in terms of the dollar for buying at

Rs 154.10 and it did not show any change for selling at Rs 154.40. The rupee fell sharply in terms of the euro for buying and selling at Rs 166.50 and Rs 168.00.

OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the euro was on the back foot on Monday, as concerns mounted about weakening economic growth in Europe at a time financial markets and policymakers fret about a new threat to the global economy from a fast spreading coronavirus in China.

The euro, which hit a 33-month low of $1.0817 on Friday, fetched $1.08385 in afternoon Asian trade on Monday, flat so far on the day but down 2.3% since the start of month - the worst performance among G10 currencies.

The German economy stagnated in the fourth quarter due to weaker private consumption and state spending, data showed on Friday, renewing fears of a recession at a time Chancellor Angela Merkel's conservatives are preoccupied with a search for a new leader.

The dollar was trading against the Indian rupee at Rs 71.430, the greenback was at 4.138 in terms of the Malaysian ringgit and the US currency was available at 6.976 in relation to the Chinese yuan.

In the second Asian trade, the euro fell towards a three-year low versus the dollar ahead of a highly watched German survey on Tuesday, which is expected to show a sharp slump in investor confidence and fuel growing pessimism about the outlook for Europe's largest economy.

The dollar was trading against the rupee at Rs 71.300, the greenback was at 4.146 in terms of the Malaysian ringgit and the US currency was available at 6.986 versus the Chinese yuan.

In the third Asian trade, the dollar stood tall over the languishing euro and heavily sold exporter currencies on Wednesday, as investors reckoned with deepening economic fallout from the coronavirus.

The new coronavirus has caused 2,004 deaths in China and infected more than 74,000 people, while measures to contain it have paralysed the economy and the supply chains it feeds.

The dollar was trading against the Malaysian ringgit at 4.158 and the greenback was available at 7.007 in terms of the Chinese yuan.

In the fourth Asian trade, the Japanese yen traded near a nine-month low versus the dollar on Thursday as risk appetite improved on expectations that China will continue to take steps to reduce the economic impact of the coronavirus outbreak.

The yuan fell against the dollar in onshore trade after China cut the benchmark loan prime rate to prop up its economy. The rate cut was expected but some investors see more reductions in the near term as the authorities move to further lower financing costs to help companies.

The Australian dollar tumbled to the lowest level in more than a decade as a rise in the unemployment rate fanned expectations for interest rate cuts.

The yen was initially bought as a safe-haven asset when the outbreak of the virus in the central Chinese province of Hubei roiled financial markets last month.

The dollar was available versus the Indian rupee at Rs 71.615, the greenback was trading in terms of the Malaysian ringgit at 4.180 and the US currency at 7.014 against the Chinese yuan.

In the final Asian trade, the yen was set for its worst week in two-and-a-half years on Friday, as fears over the creeping spread of the coronavirus epidemic drove funds out of Asia and looking for safety in the US dollar, gold and bonds.

Though it barely budged on Friday, the yen has lost 2% against the dollar in the previous two days, due to weak Japanese economic data and coronavirus worries.

China reported an uptick in infections from a virus that has already killed more than 2,200 people there and paralysed its economy.

South Korea reported 52 new cases, lifting its national total by a third to 156. Japan has reported new deaths and, along with Singapore, stands on the brink of recession. The Australian dollar traded at an 11-year low of $0.6603 and the kiwi at a four-month low of $0.6310.

The dollar was trading against the Malaysian ringgit at 4.193 and the greenback was at 7.033 versus the Chinese yuan.

In the final US trade, the US dollar fell across the board on Friday after a survey of purchasing managers showed US business activity in the manufacturing and services sectors stalled in February and as investors fretted over the fast-spreading coronavirus.

The IHS Markit flash services sector Purchasing Managers' Index dropped to 49.4 this month, the lowest since October 2013 and signalling that a sector accounting for roughly two-thirds of the US economy was in contraction for the first time since 2016. Economists polled by Reuters had forecast a reading of 53.

The euro was 0.68% higher against the greenback. Business activity in the euro zone picked up more than expected this month, a business survey showed on Friday, in welcome news for policymakers at the European Central Bank, who are trying to revive growth and chronically low inflation.