The rupee lost its strength versus dollar on Monday in the process of trading on the currency market, the currency dealers said. The rupee lost five paisa in relation to the dollar for buying and four paisa for selling at Rs 98.55 and Rs 98.57, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee unmoved against the dollar for buying and selling at Rs 99.55 and Rs 99.75, they said. The rupee was down in terms of the euro, losing 30 paisa for buying at Rs 131.05 and for selling at Rs 131.30, they said.
In the first Asian trade, a sharp bounce in the Japanese stock market on Monday helped the dollar move further away from a two-month low against the yen plumbed in the previous session, while the Australian dollar skidded after disappointing data from China, its biggest export market.
The greenback rose to 98.26 yen, some 3.5 percent higher than a trough of 94.98 hit on Friday that marked its lowest level since April 4, when the Bank of Japan unleashed an audacious easing programmer that accelerated the yen’s slide. The dollar was trading against the Indian rupee at Rs 57.77, the US currency was available at 3.1290 in terms of the Malaysian ringgit and the greenback was at 6.1335 versus the Chinese yuan.
Open Bid Rs 99.55
Open Offer Rs 99.75
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
Bid Rate Rs 98.55
Offer Rate Rs 98.57
RUPEE IN LAHORE: The national currency remained weak against both the major currencies ie US dollar and pound sterling on the local currency market on Monday.
According to the currency dealers, the dollar was opened on a healthy sign and witnessed gain on account of fresh buying. On close of trading, the dollar was ended higher at Rs 99.60 and Rs 99.85 on buying and selling counters against the last Saturday closing of Rs 99.40 and Rs 99.70, respectively.
Similarly, the rupee remained under pressure and was depreciated against the British pound. The pound’s buying and selling rates were improved from the last week closing of Rs 153.70 and Rs 154.30 to Rs 153.80 and Rs 154.50, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed a recovery of 40 paisa against the dollar on the open currency markets of Islamabad and Rawalpindi here on Monday.The dollar opened at Rs 99.40 (buying) and Rs 99.60 (selling) against last rate of Rs 99.80 (buying) and Rs 100 (selling). It did not observe further change in the second session, and closed at Rs 99.40 (buying) and Rs 99.50 (selling) in the second session.Pound Sterling opened at Rs 151.70 (buying) and Rs 155 (selling) against same last rate. It closed at the same rate without further change by the end of evening session. – Brecorder