KARACHI: On first day of the week and coincidentally also start of the month, PKR recorded losses of more than one rupee against USD in both interbank and open markets. It also went down by one rupee against Euro in open market. Euro showed strength in global currency markets as well against USD as investors moved to riskier assets in wake of rising Euro zone government bond yields, improving sentiment in Asian markets and possibility of fiscal stimulus continuing in USA.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee lost 1.45 rupees for both buying and selling against USD over last week’s rates closing at 163.90 and 164 respectively.

OPEN MARKET RATES: In the open market, PKR lost 1.50 rupees for both buying and selling over last week’s rates closing at 163.70 and 164.20 respectively.

Against Euro, PKR lost one rupee for both buying and selling closing at 192 and 193.50 respectively.

Against UAE Dirham, PKR lost 25 paisas for buying and 30 paisas for selling closing at 44.20 and 44.45 respectively.

Against Saudi Riyal, PKR lost 25 paisas for buying and 30 paisas for selling as well closing at 43.20 and 43.45 respectively.

========================Open Bid       Rs 163.70Open Offer     Rs 164.20========================

Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday

========================Bid Rate       Rs 163.90Offer Rate     Rs 164.00========================

RUPEE IN LAHORE: On the first day of the week, the Pak rupee commenced trading on a negative note versus major currencies including the greenback and the British pound in the open currency market on Monday.

According to the local currency dealers, the short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 162.50 and Rs 163.70 against the previous closing rate of Rs 161.80 and Rs 163.00, respectively.

Similarly, the national currency also followed suit in relation to the pound sterling that was bought and sold at all-time high at Rs 225.10 and Rs 227.00 against Friday’s closing trend of Rs 224.50 and Rs 226.00, respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 60 paisas against the Pak rupee at the open currency markets of Islamabad and Rawalpindi here on Monday.

The dollar opened at Rs 163.80(buying) and Rs163.90(selling) against last week’s rate of Rs 163.20(buying) and Rs 163.30(selling).

It closed at Rs 163.80(buying) and Rs163.90(selling).

The buying and selling rates of one tola of gold remained Rs106,000 (selling) and Rs106.100 (selling).

Copyright Business Recorder, 2021