Steadier trend was seen on the money market on Monday as the rupee did not show any visible change in terms of the dollar, experts said. The rupee shed one paisa versus the dollar for buying and selling at Rs 110.57 and Rs 110.58 respectively, they said.
INTER-BANK MARKET RATES: In the first Asian trade, the dollar inched higher against a basket of major peers on Monday as traders braced for new Federal Reserve Chair Jerome Powell's first monetary policy meeting this week, and as the increased threat of trade protectionism kept markets on edge.
The safe haven yen edged up as investors' risk appetites waned, with MSCI's broadest index of Asia-Pacific shares outside Japan slipping 0.4 percent.
Traders are also nervous after weekend polls suggested a massive drop in public support for Prime Minister Shinzo Abe over his handling of a festering cronyism scandal, which has raised doubts about his ability to press forward with his reflationary economic agenda including monetary easing.
The dollar was trading against the Indian rupee at Rs 65.025, the greenback was at 3.911 in terms of the Malaysian ringgit and the US currency was available at 6.333 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 82.96-82.96 (Previous 82.96-82.96).
OPEN MARKET RATES: The rupee firmly held the week-end levels in relation to the dollar for buying and selling at Rs 111.50 and Rs 111.80 respectively, they said.
The rupee also retained its levels versus the euro for buying and selling at Rs 136.00 and Rs 137.50 respectively, they added.
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Open Bid Rs.111.50
Open Offer Rs.111.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.110.57
Offer Rate Rs.110.58
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RUPEE IN LAHORE: The Pak rupee moved both ways in terms of trading against the American dollar in the local currency market on Monday.
According to currency dealers, the demand and supply situation of the US dollar continued to fluctuate throughout the trading session following divergent buyers' interest in the market. At the close, it was ended for buying and selling at Rs 111.37 and Rs 111.65 as compared to the last closing trend of Rs 111.20 and Rs 112.00 respectively, they added.
Furthermore, the local currency witnessed a considerable decline versus the pound sterling. Resultantly, the pound's buying and selling rates rose from Saturday's closing of Rs 153.70 and Rs 155.20 to Rs 155.20 and Rs 156.20 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 20 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 111.60 (buying) and Rs 111.80 (selling) against last rate of Rs 111.40 (buying) and Rs 111.60 (selling). It closed at Rs 111.60 (buying) and Rs 111.80 (selling).
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