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Firmness prevailed on the money market on Monday as the rupee showed little changes against the dollar in the process of trading, dealers said.

INTER-BANK MARKET RATES: RATES: The rupee was available versus the dollar for buying at Rs 154.20 and selling at Rs 154.25, they said.

OPEN MARKET RATES: The rupee did not move any side in terms of the dollar for buying and selling at Rs 154.10 and Rs 154.40 respectively, they said. The rupee gained modestly against the euro for buying and selling at Rs 166.20 and Rs 167.70 respectively, they said.

In the first Asian trade, the Australian and New Zealand dollars were on the defensive on Monday as the spread of coronavirus beyond China stoked worries about its impact on global growth and drove bond yields lower as investors wagered on more policy easing from central banks.

The Aussie was stuck at $0.6608, after carving a fresh 11-year trough at $0.6585 in early trade. The currency shed 1.3% last week alone and looks set to fall further with little in the way of technical support at these depths.

Markets have fully priced in an RBNZ easing to 0.75% by September, while futures imply an RBA move to 0.5% by July is a done deal.

Bonds have rallied hard in response, with the three-year bond future up 10 ticks in three sessions to reach 99.385 and again approaching the all-time highs at 99.460.

The dollar was trading against the Indian rupee at Rs 71.838, the greenback was at 4.220 in terms of the Malaysian ringgit and the US currency was at 7.035 in relation to the Chinese yuan.

========================
Open Bid       Rs 154.10
Open Offer     Rs 154.40
========================

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

========================
Bid Rate       Rs 154.20
Offer Rate     Rs 154.25
========================

RUPEE IN LAHORE: The Pak rupee witnessed divergent trend in process of trading against the greenback in the local currency market on Monday.

Amid fluctuating demand and supply situation in the market, the greenback moved both ways, but traded in a narrow margin, and ended for buying and selling at Rs 154.15 and Rs 154.35 against the Saturday's closing rate of Rs 154.00 and Rs 154.40 respectively, local currency dealers said.

Furthermore, the rupee showed strength as it recovered its earlier losses versus the pound sterling. Consequently, the pound's buying and selling rates declined from the previous closing of Rs 198.50 and Rs 199.70 to Rs 198.00 and Rs 199.20 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 15 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Monday.

The dollar opened at Rs 154.50(buying) and Rs 154.60(selling) against last rate of Rs 154.65(buying) and Rs 154.75(selling).

It closed at Rs 154.50(buying) and Rs 154.60(selling).

The buying and selling rates of one tola of gold were Rs Rs. 97,200 (selling) and Rs 97,000(buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020