THE RUPEE: Losses prevail

KARACHI: On Monday, upon market closing, Pakistan Rupee lost value against USD in interbank market while also losing value against major currencies in open market.

INTER-BANK MARKET RATES: RATES: In the interbank market, on market close, Pakistan Rupee lost 1.10 rupees for buying and 1.40 rupees for selling against USD over last Friday's rates closing at 168.30 and 168.70 respectively.

OPEN MARKET RATES: In the open market on market close, PKR lost 1.10 rupees for buying and 1.20 rupees for selling over last Friday's rates closing at 168.40 and 168.80 respectively.

Against Euro, PKR lost 2.00 rupees for buying and 1.50 rupees for selling closing at 190 and 191 respectively.

Against UAE Dirham, PKR lost 20 paisas for both buying and selling closing at 45.30 and 45.50 respectively.

Against Saudi Riyal, PKR lost 20 paisas for buying and 10 paisas for selling closing at 44.20 and 44.40 respectively.

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Open Bid       Rs 168.80
Open Offer     Rs 168.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.

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Bid Rate       Rs 168.30
Offer Rate     Rs 168.70
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RUPEE IN LAHORE: The Pak rupee depreciated its worth versus major currencies including the greenback and the British pound in the local currency market on Monday.

According to currency dealers, the short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 167.30 and Rs 168.70 against the Friday's closing rate of Rs 167.00 and Rs 167.90 respectively.

Similarly, the national currency also followed suit and witnessed a historic decline in relation to the pound sterling that was bought and sold at Rs 209.50 and Rs 211.00 against the previous closing trend of Rs 207.50 and Rs 209.00 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 35 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Monday.

The dollar opened at Rs167.85 (buying) and Rs 167.95 (selling) against last rate of Rs167.50 (buying) and Rs 167.60 (selling).

It closed at Rs167.85 (buying) and Rs 167.95 (selling).

The buying and selling rates of one tola of gold was Rs 112,700 (selling) and Rs 112,500 (selling) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020