The rupee depicted its firmness against the dollar on Monday, as slight recovery was observed on all fronts in the process of trading session, dealers said.
In the first Asian trade,-China's yuan hit an 11-year low in onshore trade and tumbled to a record low in offshore trade after a sharp re-escalation in the US-China trade war whacked investor confidence and darkened the global economic outlook.
The yen, often bought as a safe haven, briefly rose to the highest against the dollar since a January flash crash. But those gains were erased as Japanese importers sold yen, which remained firmer against other currencies, a sign of waning risk appetite.
The dollar was trading against the Indian rupee at Rs 72.090, the US currency was at 4.205 versus the Malaysian ringgit and the greenback was available at 7.144 in terms of the Chinese yuan.
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Open Bid Rs.157.10
Open Offer Rs.157.60
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Bid Rate Rs.157.33
Offer Rate Rs.157.35
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According to the currency dealers, the dollar resumed trading at its last week closing of Rs 156.80 and Rs 157.90 on buying and selling counter, respectively. However, the dollar moved both ways and finally settled at Rs 157.00 and Rs 157.55 on buying and selling counter, respectively.
On the contrary, the rupee staged recovery and appreciated against the British pound. The pound was purchased and sold at Rs 191.00 and Rs 192.00 as compared to last Saturday closing of Rs 191.20 and Rs 192.50, respectively, the dealers added.
The dollar opened at Rs 158 (buying) and Rs 158.10 (selling) against last rate of Rs 158.15 (buying) and Rs 158.25 (selling). It closed at Rs 158 (buying) and Rs 158.10 (selling).
The buying and selling rates of one tola of gold remained as Rs 88,550 (selling) and Rs 88,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.