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KARACHI: On Monday, Pakistan Rupee continued to go down against US Dollar in both inter-bank and open markets. It however went up against Euro in open market. According to reports, in global currency markets, softening US economic data and rising coronavirus cases made investors cautious turning to safe haven USD. Meanwhile political turmoil in Italy held Euro under pressure.

INTER-BANK MARKET RATES: In the inter-bank market, Pakistan Rupee lost 25 paisas for buying and 20 paisas for selling against USD over last week's rates closing at 160.45 and 160.55 respectively.

OPEN MARKET RATES: In the open market, PKR lost 20 paisas for both buying and selling over last week's rates closing at 160.30 and 160.60 respectively.

Against Euro, PKR gained 50 paisas for both buying and selling closing at 193 and 194.50 respectively thus reversing last week end's losses.

Against UAE Dirham, PKR lost 5 paisas for both buying and selling closing at 43.60 and 43.80 respectively.

Against Saudi Riyal, PKR lost 5 paisas for both buying and selling as well closing at 42.50 and 42.70 respectively.

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Open Bid       Rs 160.30
Open Offer     Rs 160.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday

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Bid Rate       Rs 160.45
Offer Rate     Rs 160.55
========================

RUPEE IN LAHORE: The Pak rupee depreciated its worth in the process of trading against the greenback 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 160.20 and Rs 161.30 against the previous closing trend of Rs 159.75 and Rs 160.65, respectively.

On the other hand, the national currency showed strength as it recovered its earlier losses versus the pound sterling. Consequently, the pound's buying and selling slid from Friday's closing of Rs 217.50 and Rs 219.75 to Rs 216.00 and Rs 217.70 respectively, they added.

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 Rs160.80(buying) and Rs 160.90(selling) against last rate of Rs160.60(buying) and Rs 160.70(selling).

It closed at Rs160.80(buying) and Rs 160.90(selling).

The buying and selling rates of one tola of gold was Rs. 112,200 (selling) and Rs112,000(buying) at the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2021

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