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

INTER-BANK MARKET RATES: RATES: The rupee shed modestly versus the dollar for buying and selling at Rs 154.42 and Rs 154.44 respectively, they said.

OPEN MARKET RATES: The rupee did not move any side in relation to the dollar for buying and selling at Rs 154.30 and Rs 154.60 respectively, while it dropped 20 paisas in terms of the euro for buying at Rs 168.50, it, however, was unmoved for selling at Rs 170.00, respectively, they said.

In the first Asian trade, Asian currencies lifted a little on Monday amid some early signs that the spread of the coronavirus epidemic could be slowing down and as some big businesses resumed work in China after the Lunar New Year holiday.

Workers began trickling back to offices and factories around the country as the government eased some restrictions on travel in the wake of the epidemic that has now killed more than 900 people, mostly on the mainland.

The Australian dollar rose 0.5% to as high as $0.6706, pulling away from a decade-low touched earlier in the session. It has lost 4.5% this year.

The New Zealand dollar bounced 0.1% from a two-month low to $0.6405. The safe-haven yen softened slightly to 109.75 yen per dollar, while bonds dipped and stock markets pared early losses with the broad appetite for risk.

The dollar was trading against the Indian rupee at Rs 71.345, the greenback was at 4.144 versus the Malaysian ringgit and the US currency was at 6.988 in terms of the Chinese yuan.

========================
Open Bid       Rs 154.30
Open Offer     Rs 154.60
========================

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

========================
Bid Rate       Rs 154.42
Offer Rate     Rs 154.44
========================

RUPEE IN LAHORE: The Pak rupee appreciated its worth in process of trading against the greenback in the local currency market on Monday.

According to currency dealers, the greenback remained under selling pressure throughout the trading session and ended lower for buying and selling at Rs 154.00 and Rs 154.40 against the Saturday's closing rate of Rs 154.10 and Rs 154.50 respectively.

On the other hand, the national currency lost its earlier recoveries in relation to the pound sterling. Consequently, the pound's buying and selling rates rose from the previous closing of Rs 197.60 and Rs 199.00 to Rs 198.00 and Rs 199.30 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 154.60 (buying) and Rs 154.70 (selling) against same last rate. It closed at Rs 154.60 (buying) and Rs 154.70 (selling).

The buying and selling rates of one tola of gold were Rs 91,500 (selling) and Rs 91,200 (buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020