The rupee showed modest recovery in terms of the dollar on the money market on Monday in the process of trading activity, dealers said. The rupee was inert in terms of the dollar for buying and selling at Rs 141.39 and Rs 141.40 respectively, they said.
Marketmen attributed the rupee's appreciation to easy flow of dollars supply, which helped the national currency to look ahead.
According to a report, the International Monetary Fund (IMF) team will travel to Pakistan this month to continue talks over a support package, the IMF said on Monday.
In the first Asian trade, the yen hovered near its lowest level this year on Monday as more signs of stabilisation in the Chinese economy and an upbeat start to the US earnings season prompted investors to abandon the safe-haven currency to seek higher returns elsewhere.
The dollar firmed to 112.02 yen, near Friday's high of 112.10, which was near its year-to-date high of 112.135 touched in early March.
The safe-haven Swiss franc has also eased against the euro, which strengthened to 1.1329 franc, recovering its losses made late last month to hit a three-week high on the franc.
The common currency traded at $1.1304, keeping intact its slow recovery from $1.1183 touched on April 2. It rose to as high as $1.1324 on Friday.
Chinese data published on Friday showed exports rebounded sharply and new bank loans increased far more than expected in March.
Although China's imports remained weak, the data on the whole cemented hopes that the Chinese economy is bottoming out after a soft patch as Beijing has curbed de-leveraging efforts and stepped up support for the economy in recent months.
The dollar was trading against the India rupee at Rs 69.290, the greenback was at 4.110 in terms of the Malaysian ringgit and the US currency was available at 6.710 in relation to the Chinese yuan.
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Open Bid Rs.141.80
Open Offer Rs.142.30
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Bid Rate Rs.141.39
Offer Rate Rs.141.40
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Following lack of buyers' interest in the market, the greenback slipped its worth and ended lower for buying and selling at Rs 142.00 and Rs 142.70 against the opening trend of Rs 142.30 and Rs 142.80 respectively, local currency dealers said.
On the other hand, the national currency moved both ways in relation to the pound sterling which was bought and sold at Rs 184.50 and Rs 186.10 against the Saturday's closing rates of Rs 185.20 and Rs 186.00 respectively, they added.
The dollar opened at Rs 142(buying) and Rs 142.10(selling) against last rate of
Rs 142.20 (buying) and Rs 142.30 (selling). It closed at Rs 142 (buying) and Rs 142.10 (selling).
The buying and selling rates of one tola of gold was Rs. 71,400 (selling) and Rs 71,300 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.