The rupee extended its week-end fall against the dollar on the currency market on Monday in the process of trading, dealers said.
INTERBANK MARKET RATES: The rupee shed five-paisa versus the dollar for buying at Rs 98.80 and the national currency was down by six-paisa for selling at Rs 98.85, they said.
OPEN MARKET RATES: The rupee dropped by five-paisa in terms of the dollar for buying and selling at Rs 99.20 and Rs 99.40, they said. The rupee lost 50-paisa against the euro for buying and selling at Rs 134.75 and Rs 135.00, they said.
In the first day of Asian trade, the dollar remained near a more than one-month low against a basket of major currencies, after a batch of disappointing US data last week gave investors no reason to expect higher US interest rates anytime soon.
The dollar index was last at 80.042, steady on the day and not far from 80.014 touched on Friday, a level not seen since May 21. It posted its biggest weekly fall in over two months, and was on track for a flat half-year performance.
The dollar was trading against the Indian rupee at Rs 60.08, the greenback was at 3.2090 in terms of Malaysian ringgit, the US currency was available at 6.206 versus the Chinese yuan.
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
RUPEE IN LAHORE: The Pak rupee remained weak in relation to the greenback on the local currency market on Monday.
According to the currency dealers, the dollar was opened on a healthy note and kept on rising following fresh demand. At close of trading, the dollar was ended higher at Rs 99.20 and Rs 99.45 as its buying and selling rate against Rs 99.00 and Rs 99.25 of last Saturday, respectively, the dealers said.
On the contrary, the rupee showed strength and was appreciated against the pound sterling. The pound’s buying and selling rates were declined from last week closing of Rs 167.75 and Rs 168.00 to Rs 167.65 and Rs 167.90, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 98.50 (buying) and Rs 98.60 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 98.50 (buying) and Rs 98.60 (selling).
Pound Sterling opened at Rs 165 (buying) and Rs 165.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.