An easier trend was witnessed on the money market on Monday as the rupee fell slightly against the dollar in the process of trading activity, dealers said.
INTER-BANK MARKET RATES: RATES: The rupee shed four paisas versus the dollar for buying and selling at Rs 154.59 and Rs 154.61 respectively, they said.
OPEN MARKET RATES: The rupee also dropped 10 paisas in relation to the dollar for buying and selling at Rs 154.50 and Rs 154.80 respectively, they said. The rupee was inert versus the euro for buying at Rs 170.50 while the local currency was down by 30 paisas for selling and selling and Rs 172.30, they said.
In the first Asian trade, the dollar began the week on a firm note on Monday as economic data pointed to strength right across the US economy, while optimism on the outlook for China supported Asian currencies.
The greenback held steady near a one-week high against the euro, at $1.1095, and just below an eight-month peak on the Japanese yen, at 110.17 yen per dollar. Against a basket of currencies it was flat.
China's yuan edged 0.2% higher to a fresh six-month top, while the Australian and New Zealand dollars also edged ahead.
Moves were slight and volumes thin as Chinese New Year approaches in Asia and with US markets closed for Martin Luther King day on Monday.
Figures on Friday showed US homebuilding surged to a 13-year high in December, with retail sales also on the rise and a gauge of manufacturing activity rebounding to its highest in eight months.
Futures pricing suggests nobody thinks the US Federal Reserve will cut rates when it meets at the end of the month.
The dollar was trading against the Indian rupee at Rs 71.080, the greenback was at 4.055 in terms of the Malaysian ringgit and the US currency was at 6.850 versus the Chinese yuan.
Open Bid Rs 154.50
Open Offer Rs 154.80
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
Bid Rate Rs 154.59
Offer Rate Rs 154.61
RUPEE IN LAHORE: The Pak rupee witnessed divergent trend versus major foreign currencies including the greenback and the British pound in the open currency market on Monday.
Following fluctuating demand and supply situation in the market, the greenback observed volatile trading activity and ended for buying and selling at Rs 154.30 and Rs 154.65 against the Saturday's closing rate of Rs 154.20 and Rs 154.80 respectively, local currency dealers said.
Similarly, the national currency also followed the same pattern in relation to the pound sterling that was bought and sold at Rs 199.55 and Rs 200.70 against the previous closing trend of Rs 199.00 and Rs 201.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 10 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 155 (buying) and Rs 155.10 (selling) against last rate of Rs 154.90 (buying) and Rs 155 (selling).
It closed at Rs 155 (buying) and Rs 155.10 (selling).
The buying and selling rates of one tola of gold were Rs 90,500 (selling) and Rs 90,200 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.