THE RUPEE: Mixed patterns

The rupee moved both ways against the dollar on the money market on Monday in the process of trading, dealers said.

INTER-BANK MARKET RATES: RATES: The rupee dropped modestly in terms of the dollar for buying and selling at Rs 154.99 and Rs 155.01 respectively, they said.

OPEN MARKET RATES: The rupee was almost unchanged versus the dollar for buying and selling at Rs 154.40 and Rs 154.70 respectively, while it lost 70 paisas against the euro for buying and selling at Rs 171.20 and Rs 172.80 respectively, they said.

In the first Asian trade, currencies made a muted response to the US-China trade deal on Monday, as last week's brief relief that an agreement had been reached was replaced by frustration at a lack of details, and a reluctance to make big bets as Christmas draws near.

Washington and Beijing cooled their trade war last week, reducing some US tariffs in exchange for what US officials said would be a big jump in Chinese purchases of American farm products and other goods.

That had lifted the Australian dollar and pushed down the safe-harbour yen last week, before profit-taking set in.

The Chinese yuan traded at 6.9959 per US dollar, still stronger than the symbolic 7 mark but below the four-month high of 6.9589 that it hit last week.

Both currencies found some support from slightly stronger-than-expected Chinese production and consumption data.

The euro rose marginally to $1.1129, as did the Japanese yen to 109.40 per dollar. Against a basket of currencies, the dollar weakened 0.1% to 97.084.

The dollar was trading against the Indian rupee at Rs 70.970, the US currency was at 4.138 in terms of the Malaysian ringgit and the greenback was at 6.998 versus the Chinese yuan.

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Open Bid       Rs 154.40
Open Offer     Rs 154.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.

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Bid Rate       Rs 154.99
Offer Rate     Rs 155.01
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RUPEE IN LAHORE: The Pak rupee appreciated its worth against the American dollar in the open currency market on Monday.

Following lack of buyers' interest in the market, the dollar could not sustain its earlier recoveries as it ended lower for buying and selling at Rs 154.20 and Rs 154.50 against the previous closing rate of Rs 154.40 and Rs155.00 respectively, local currency dealers said.

Moreover, the local currency witnessed divergent trend as it moved both ways in relation to the pound sterling. The British currency was bought and sold at Rs 204.70 and Rs 205.40 against the Saturday's closing trend of Rs 204.00 and Rs 206.50 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 50 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Monday.

The dollar opened at Rs 155.50 (buying) and Rs 155.60 (selling) against last rate of Rs 155 (buying) and Rs 155.10 (selling).

It closed at Rs 155.50 (buying) and Rs 155.60 (selling).

The buying and selling rates of one tola of gold were Rs 84,200 (selling) and Rs 84,200 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.