The rupee depicted weak trend against the dollar on the money market on Monday in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee lost 35 paisas versus the dollar for buying and selling at Rs 160.50 and Rs 160.55 respectively.
OPEN MARKET RATES: The rupee also shed 20 paisas in relation to the dollar for buying and selling at Rs 160.20 and Rs 160.70 respectively, while it maintained almost week-end levels in terms of the euro for buying and selling at Rs 179.00 and 181.00 respectively, dealers said.
In the first Asian trade, the dollar drifted higher on Monday as investors tempered their expectations for deep US interest rate cuts this month and heightened Middle East tensions supported safe-haven assets.
While currency-market focus will centre on global central bank decisions scheduled for the next two weeks, traders are also watching for developments in US-China trade negotiations and Wall Street earnings.
The dollar broke above 108 yen to hit its highest since Wednesday, though that was still in the middle of the 107-109 range where it has traded for a month. The dollar index was barely changed at 97.179 after gaining 0.35% last week.
The dollar was trading against the Indian rupee at Rs 68.990, the greenback was at 4.112 in terms of the Malaysian ringgit and the US currency was at 6.879 versus the Chinese yuan.
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Open Bid Rs.160.20
Open Offer Rs.160.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.160.50
Offer Rate Rs.160.55
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RUPEE IN LAHORE: The Pak rupee appreciated its worth in process of trading against the American dollar in the local currency market on Monday.
Amidst lack of buyers' interest in the market, the US dollar could not sustain and ended lower for buying and selling at Rs 160.25 and Rs 160.50 against the Saturday's closing trend of Rs 160.30 and Rs 161.90 respectively, local currency dealers said.
Moreover, the rupee stayed unchanged against the pound sterling for buying at Rs 199.50 whereas it recovered 40 paisas and ended for selling at Rs 200.80, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 10 paisas against the dollar at the local currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 160.80 (buying) and Rs 160.90 (selling) against last rate of Rs 160.90 (buying) and Rs 161 (selling). It closed at Rs 160.80 (buying) and Rs 160.90 (selling).
The buying and selling rates of one tola of gold was Rs 83,300 (selling) and Rs 83,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
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