The rupee managed to hold present levels against the dollar on the money market on Monday in the process of trading activity, dealers said.
In the first Asian trade, the yuan and its proxy, the Australian dollar, were on the defensive on Monday as China's share market reopened with big losses after the Lunar New Year break and anxiety over a virus outbreak in the country kept investors on guard.
Chinese shares tumbled after the 10-day break was extended to help stem the epidemic though falls were in line with what had been indicated by Chinese share futures and ETFs (Exchange Traded Funds) traded outside China.
The currency is often regarded as a proxy to the yuan, being more freely traded and because of Australia's reliance on trade with China.
The dollar was available against the Indian rupee at Rs 71.578, the greenback was at 4.111 in terms of the Malaysian ringgit and the US currency was trading at 7.015 in relation to the Chinese yuan.
========================
Open Bid Rs 154.30
Open Offer Rs 154.60
========================
========================
Bid Rate Rs 154.50
Offer Rate Rs 154.52
========================
Following lack of buyers' interest in the market, the greenback remained under selling pressure throughout the trading session and ended lower for buying and selling at Rs 154.00 and Rs 154.45 against the Saturday's closing rate of Rs 154.30 and Rs 154.80 respectively, local currency dealers said.
Similarly, the local currency also followed the suit in relation to the pound sterling that was bought and sold at Rs 200.30 and Rs 202.00 against the previous closing trend of Rs 201.00 and Rs 203.00 respectively, they added.
The dollar opened at Rs 154.60 (buying) and Rs 154.70 (selling) against last rate of Rs 154.80 (buying) and Rs 154.90 (selling).
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.