KARACHI: The rupee managed to hold overnight levels against the dollar on the money market on Tuesday in the process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee did not show any change in relation to the dollar for buying and selling at Rs 155.32 and Rs 155.34 respectively, they said.
OPEN MARKET RATES: The rupee was almost unchanged versus the dollar for buying and selling at Rs 155.40 and Rs 155.70 respectively, they said. The rupee was up by 10 paisas against the euro for buying and selling at Rs 170.50 and Rs 172.00 respectively, they said.
In the fourth Asian trade, the safe-haven yen rose against the dollar after US President Donald Trump signed into law support for anti-government protesters in Hong Kong, which could complicate efforts to end the US-China trade war.
That caused the yuan to fall in offshore trade on mounting worries that months of often violent protest against Chinese rule of the former British colony potentially will worsen already fractious relations between Washington and Beijing.
The Swiss franc and gold also rose on Thursday as investors sought other safe harbours due to concerns about a potential increase in geopolitical risk.
Also Read: THE RUPEE: Minor changes
In response to the US move, China’s foreign ministry said it resolutely opposed the law and threatened to take firm counter-measures, complicating efforts to scale back a 16-month long trade war between the world’s two-largest economies.
The dollar was available against the Indian rupee at Rs 71.500, the greenback was at 4.172 in terms of the Malaysian ringgit and the US currency was at 7.027 in relation to the Chinese yuan.
======================== Open Bid Rs.155.40 Open Offer Rs.155.70 ========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
======================== Bid Rate Rs.155.32 Offer Rate Rs.155.34 ========================
RUPEE IN LAHORE: The Pak rupee depreciated its worth versus major foreign currencies including the greenback and the British pound in the open currency market on Thursday.
According to currency dealers, the short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 155.45 and Rs 155.80 against the opening trend of Rs 155.35 and Rs 155.60 respectively.
Similarly, the national currency also followed the suit in relation to the pound sterling which was bought and sold at Rs 200.00 and Rs 200.80 against the Wednesday’s closing rate of Rs 199.25 and Rs 199.80 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 10 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 155.80 (buying) and Rs 155.90(selling) against last rate of Rs 155.70 (buying) and Rs 155.75 (selling).
It closed at Rs 155.80 (buying) and Rs 155.90 (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 29th, 2019)