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

INTER-BANK MARKET RATES: The rupee held the present levels versus the dollar for buying and selling at Rs 155.64 and Rs 155.65, they said.

OPEN MARKET RATES: The rupee gained modestly in relation to the dollar for buying and selling at Rs 155.45 and Rs 155.65, they said. The rupee was almost unchanged against the euro for buying and selling at Rs 173.00 and Rs 175.00, they said.

In the first Asian trade, major currencies started the week quietly with a holiday in Tokyo making for thin trading conditions and investors waiting to hear the first official speech from the new head of the European Central Bank later in the session.

The dollar had tried to rally on Friday after US payrolls beat expectations, but was undone by a soft manufacturing survey which left it looking heavy.

The euro started the week firm at $1.1168 as bulls looked to test the October peak of $1.1179 and the 200-day moving average at $1.1195.

Against a basket of currencies, the dollar was stuck at 97.218 having touched a three-month low at 97.107 on Friday. It was now targeting the August trough of 97.033.

The dollar fared a little better on the yen as safe havens fell from fashion, edging up to 108.23 from Friday's low around 107.87.

Sterling remained well bid at $1.2935, after last month's rally from $1.2200, as investors wagered there was less risk of a hard Brexit now that an election campaign was underway.

========================
Open Bid       Rs.155.45
Open Offer     Rs.155.65
========================

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

========================
Bid Rate       Rs.155.64
Offer Rate     Rs.155.65
========================

RUPEE IN LAHORE: The Pak rupee recovered its earlier losses versus major foreign currencies including the greenback and the British pound in the local currency market on Monday.

Following lack of buyers' interest in the market, the greenback could not sustain and ended lower for buying and selling at Rs 155.00 and Rs 155.40 against the previous closing rate of Rs 155.60 and Rs 156.00 respectively, local currency dealers said.

Similarly, the national currency also followed the suit in relation to the pound sterling. The pound's buying and selling rates declined from the Saturday's closing of Rs 199.85 and Rs 202.10 to Rs 199.60 and Rs 200.90 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 20 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Monday.

The dollar opened at Rs155.80 (buying) and Rs 155.90 (selling) against last rate of Rs 156 (buying) and Rs 156.10 (selling).

It closed at 155.80 (buying) and Rs 155.90 (selling).

The buying and selling rates of one tola of gold were Rs. 87,850 (selling) and Rs 87,500 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2019