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The rupee moved up slightly against the dollar on the money market on Monday in the process of trading activity, dealers said.

INTER-BANK MARKET RATES: The rupee appreciated by five paisas in terms of the dollar for buying and selling at Rs 155.83 and Rs 155.85 respectively, dealers said.

OPEN MARKET RATES: The rupee held the week-end levels in relation to the dollar for buying and selling at Rs 155.80 and Rs 156.10 respectively, they added. The rupee lost 50 paisas versus the euro for buying and selling at Rs 172.50 and Rs 174.50 respectively, they added.

In the first Asian trade, the dollar traded near its highest in more than two months versus the yen on Monday ahead of a US Federal Reserve meeting this week where policymakers are expected to cut interest rates but emphasise their reluctance to ease policy further.

Sterling edged lower versus the dollar and the euro, with an agreement expected later on Monday to delay Britain's divorce from the European Union to Jan. 31 after Prime Minister Boris Johnson failed to win approval for his Brexit timetable.

The market focus will shift to the Fed meeting ending Oct. 30 and a Bank of Japan meeting ending Oct 31. The Fed is expected to cut interest rates for a third time this year, but fixed income analysts say this is largely priced into the market.

The BOJ is leaning toward keeping policy on hold next week, but the decision is a close call as policymakers struggle with threats to the global outlook from the US-China trade war and Brexit.

The dollar was trading against the Chinese yuan at 7.062. Rates of Malaysian ringgit and Indian rupee not received due to local holidays.

========================
Open Bid       Rs 155.80
Open Offer     Rs 156.10
========================

Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.

========================
Bid Rate       Rs 155.83
Offer Rate     Rs 155.85
========================

RUPEE IN LAHORE: The Pak rupee appreciated its worth in process of trading versus the American dollar and the British pound in the local currency market on Monday.

Following lack of buyers' interest in the market, the dollar could not sustain throughout the trading session and ended lower for buying and selling at Rs 155.85 and Rs 156.25 against the last week closing rate of Rs 155.85 and Rs 156.25 respectively, local currency dealers said.

Likewise, the rupee also followed the suit in relation to the pound sterling which was bought and sold at Rs 199.00 and Rs 199.75 against the Saturday's closing trend of Rs 199.50 and Rs 202.00 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 5 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Monday.

The dollar opened at Rs 156.20 (buying) and Rs 156.25 (selling) against last rate of Rs 156.25 (buying) and Rs 156.30 (selling).

It closed at Rs 156.20 (buying) and Rs 156.25 (selling).

The buying and selling rates of one tola of gold were Rs. 87,500 (selling) and Rs 87,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2019