THE RUPEE: Minor changes

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SOURCEBusiness Recorder
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KARACHI: The rupee showed minor changes against the dollar on the money market on Saturday in the process of trading activity, dealers said.

INTER-BANK MARKET RATES: The rupee shed two paisas in relation to the dollar for buying at Rs 155.30 while the rupee was unmoved for selling at Rs 155.32, they said.

OPEN MARKET RATES: The rupee did not move any side versus the dollar for buying and selling at Rs 155.30 and Rs 155.60 respectively, they said. The rupee appreciated sharply in relation to the euro for buying and selling at Rs 170.00 and Rs 172.00 respectively, they said.

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In the first Asian trade, the dollar and export-focused currencies found support on Monday as positive signs for the US economy and upbeat headlines on US-China trade talks boosted investor confidence.

Also Read: THE RUPEE: Two-way trade

The pound climbed, too, on hopes for an imminent Brexit and an end to years of political paralysis.

The day’s mood – tempered with weariness at the flow of trade news – was best illustrated by the New Zealand dollar. It rose 0.4% against the safe-haven Japanese yen to 69.83 yen.

Sterling rose 0.1% to $1.2847, after British Prime Minister Boris Johnson, whose Conservative Party leads in opinion polls ahead of the Dec. 12 election, promised to bring a deal to leave the European Union to parliament before Christmas.

The dollar was at Rs 71.618 versus the Indian rupee, the greenback was available at 4.173 in terms of the Malaysian ringgit and the US was at 7.034 in relation to the Chinese yuan.

 

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Open Bid       Rs.155.30


Open Offer     Rs.155.60


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

 

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Bid Rate       Rs.155.30


Offer Rate     Rs.155.32


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RUPEE IN LAHORE: The Pak rupee recovered its earlier losses against the dollar and the British pound in process of trading on Monday, dealers said.

Amid lack of buyers’ interest in the market, the greenback could not sustain its worth as it ended lower for buying and selling at Rs 155.20 and Rs 155.55 against the previous closing trend of Rs 155.35 and Rs 155.75 respectively, local currency dealers said.

Likewise, the national currency also followed the suit in relation to the pound sterling which was bought and sold at Rs 199.20 and Rs 200.00 against the Saturday’s closing rate of Rs 199.50 and Rs 201.50 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 5 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Monday.

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The dollar opened at Rs 155.70(buying) and Rs 155.75(selling) against last rate of Rs 155.75(buying) and Rs 155.80(selling).

It closed at Rs 155.70(buying) and Rs 155.75(selling).

The buying and selling rates of one tola of gold were Rs. 85,500(selling) and Rs 85,200 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

(This news/article originally appeared in Business Recorder on November 26th, 2019)

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