THE RUPEE: Weak trend

The rupee could not get rid of weak-end's easier trend against the dollar on the money market on Monday in the process of trading, dealers said.

INTER-BANK MARKET RATES: RATES: The rupee shed five paisas against the dollar for buying and selling at Rs 154.94 and Rs 154.96 respectively, they said.

OPEN MARKET RATES: In line with the inter-bank market trend, the rupee dropped 10 paisas in term of the dollar for buying and selling at Rs 155.00 and Rs 155.30 respectively, they said. The rupee also fell sharply versus the euro, losing 90 paisas for buying and selling at Rs 172.60 and Rs 174.30 respectively, they said.

In the first Asian trade, the safe-haven yen touched a three-month high on Monday and gold jumped as investors fretted that the killing of Iran's most prominent military commander by the United States could trigger a broader Middle East conflict.

US President Donald Trump warned of a "major retaliation" if Iran hit back, while Iran's replacement commander vowed to expel the United States from the region.

The yen, regarded as a haven in times of market turmoil by virtue of Japan's status as the world's biggest creditor, rose as much as 0.3% to 107.82 per dollar during the trade, its strongest since October 2019. It handed back most of those gains later though, even as gold gained and stocks slid.

The dollar was trading against the Indian rupee at Rs 72.020, the greenback was available at 4.107 in terms of the Malaysian ringgit and the US currency was at 6.971 versus the Chinese yuan.

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Open Bid       Rs 155.00

Open Offer     Rs 155.30

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

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Bid Rate       Rs 154.94

Offer Rate     Rs 154.96

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RUPEE IN LAHORE: The Pak rupee depreciated its worth versus major foreign currencies including the US dollar and the British pound in the open currency market on Monday.

According to currency dealers, the short supply phenomenon of the dollar prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 154.90 and Rs 155.30 against the Saturday's closing rate of Rs 154.55 and Rs 155.20 respectively.

Likewise, the national currency also followed the suit in relation to the pound sterling that was bought and sold at Rs 202.55 and Rs 203.30 against the previous closing trend of Rs 200.80 and Rs 202.50 respectively, they added.

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

The dollar opened at Rs 155.45 (buying) and Rs 155.50 (selling) against last week's rate of Rs 155.40 (buying) and Rs 155.45 (selling).

It closed at Rs 155.45 (buying) and Rs 155.50 (selling).

The buying and selling rates of one tola of gold were Rs 91,400 (selling) and Rs 91,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.