The rupee tended lower against the dollar on both the inter-bank market and open currency market on Monday in the process of trading activity, dealers said.
According to the market sources, the Forex Association of Pakistan (FAP) suspended the business activity to fight coronavirus. On Monday it commenced its business activity after the closure of two weeks due to spread of coronavirus the world over.
INTER-BANK MARKET RATES: RATES: The rupee shed modestly versus the dollar for buying and selling at Rs 166.95 and Rs 167.05 respectively, they said.
OPEN MARKET RATES: The national currency was available at Rs 165.50 and Rs 166.50 when the FAP reopened after nearly two weeks' closure, they said. The rupee lost about Rs 5 in terms of the euro for buying and selling at Rs 177.00 and Rs 179.00 respectively, they said.
In the first Asian trade, the yen fell on Monday after Japanese media said Prime Minister Shinzo Abe may declare a state of emergency as early as Tuesday to curb an alarming spike in coronavirus infections.
The pound trimmed losses against the dollar and euro after Britain assured Prime Minister Boris Johnson continues to lead the government after he spent the night in hospital for tests as he was still suffering symptoms of the coronavirus.
======================== Open Bid Rs 165.50 Open Offer Rs 166.50 ========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
======================== Bid Rate Rs 166.95 Offer Rate Rs 167.05 ========================