THE RUPEE: Slight changes

The rupee did not move sharply against the dollar on the money market on Monday in the process of trading activity, dealers said.

Commenting on the rupee's stable trend versus the dollar in the local currency market, Malik Bostan, President Forex Association of Pakistan (FAP) said the dollar investors still hold dollars owing to long-awaited Financial Action Task Force (FATF) decision, Kashmir issue and the recent political sit-in at Islamabad. If major issues on the economic and political fronts solved, the local currency likely to show further improvement versus the dollar, he added.

INTER-BANK MARKET RATES: The rupee inched up by two paisas in relation to the dollar for buying and selling at Rs 155.43 and Rs 155.48 respectively, they said.

OPEN MARKET RATES: The rupee was unchanged in terms of the dollar for buying and selling at Rs 155.20 and Rs 155.50 respectively, they said. The rupee shed 30 paisas versus the euro for buying and selling at Rs 170.80 and Rs 172.30 respectively, they said.

In the first Asian trade, the dollar held near multi-week highs on Monday amid optimism that the United States and China would roll back tariffs that have hurt global growth.

The dollar index against a basket of six major currencies stood flat at 98.323, just off its 3-1/2-week high of 98.404 touched on late Friday. Moves were slight as traders kept a wary eye for further news on the US-China trade war.

Officials from both countries said late last week that a rollback of some tit-for-tat tariffs had been agreed as part of a preliminary deal, that has still to be finalised, aimed at ending the trade war.

Even though that was subsequently denied by US President Donald Trump on Friday, he did not completely rule out a deal and US benchmark treasuries held above a key support level at 1.9%, buoying the currency.

The dollar was trading against the Indian rupee at Rs 71.358, the greenback was available at 4.140 versus the Malaysian ringgit and the US currency was at 7.000 in terms of the Chinese yuan.

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Open Bid       Rs 155.20
Open Offer     Rs 155.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.

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Bid Rate       Rs 155.43
Offer Rate     Rs 155.48
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RUPEE IN LAHORE: The Pak rupee appreciated its worth versus major foreign currencies including the greenback and the British pound in the local currency market on Monday.

Amidst lack of buyers' interest in the market, the greenback could not sustain its earlier recoveries as it ended lower for buying and selling at Rs 155.50 and Rs 155.30 against the previous closing rate of Rs 155.25 and Rs 155.65 respectively, local currency dealers said.

Likewise, the national currency also followed the suit in relation to the pound sterling which was bought and sold at Rs 197.90 and Rs 199.50 against the Saturday's closing trend of Rs 198.00 and Rs 199.50 respectively, they added.

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

The dollar opened at Rs 155.65 (buying) and Rs 155.75 (selling) against same last week's rate.

It closed at Rs 155.65 (buying) and Rs 155.75 (selling). The buying and selling rates of one tola of gold were Rs. 86,750 (selling) and Rs 86,500 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.