THE RUPEE: Mixed trends

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SOURCEBusiness Recorder
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KARACHI: The rupee managed to hold weekend levels against the dollar on the open market, it however fell on the inter-bank market on Monday in the process of trading, dealers said.

INTER-BANK MARKET RATES: The rupee shed five paisas in terms of the dollar for buying and selling at Rs 155.29 and Rs 155.31 respectively, they said.

OPEN MARKET RATES: The rupee picked up 10 paisas versus the dollar for buying and selling at Rs 155.20 and Rs 155.40 respectively, they said. The rupee was available against the euro for buying and selling at Rs 170.30 and Rs 171.80 respectively, they said.

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In the first Asian trade, the Japanese yen hit a six-month low on Monday as investors cheered an unexpected rebound in Chinese manufacturing, while a tightening British election race knocked the pound.

The safe-haven yen fell 0.2% to 109.72 per dollar, its lowest since May, and riskier currencies rallied after two surveys showed Chinese factory activity expanding.

Also Read: THE RUPEE : Marginal changes

The dollar was trading against the Indian rupee at Rs 71.710, the greenback was available at 4.178 versus the Malaysian ringgit and the US currency was at 7.031 in terms of the Chinese yuan.

 

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Open Bid       Rs 155.20


Open Offer     Rs 155.40


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

 

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Bid Rate       Rs 155.29


Offer Rate     Rs 155.31


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RUPEE IN LAHORE: The Pak rupee recovered its earlier losses versus major foreign currencies including the greenback and the British pound in the local currency market on Monday.

Amid lack of buyers’ interest in the market, the greenback could not hold its strength and ended lower for buying and selling at Rs 155.00 and Rs 155.45 against the previous closing trend of Rs 155.25 and Rs 155.65 respectively, local currency dealers said.

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Similarly, the local currency also followed the suit in relation to the pound sterling which was bought and sold at Rs 199.00 and Rs 199.90 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 12paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Monday.

The dollar opened at Rs 155.50(buying) and Rs 155.60(selling) against last rate of Rs 155.65(buying) and Rs 155.75(selling).

It closed at Rs 155.50(buying) and Rs 155.60(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 December 3rd, 2019)

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