The rupee managed to sustain weeks’ long firmness against the dollar on the money market on Monday in the process of trading, dealers said. The rupee showed no change in terms of the dollar for buying and selling at Rs 104.85 and Rs 104.86, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee also held it levels in relation to the dollar for buying and selling at Rs 107.00 and Rs 107.20, they said. It, however, lost 50 paisas against the euro for buying and selling at Rs 113.00 and Rs 114.50, they said.
In the first Asian trade, the dollar recouped some ground after dipping to a two-week low against the yen, but it lacked momentum as investors awaited this week’s speech by US President Donald Trump for clues on tax reform. Trump will make his first major policy address to Congress on Tuesday.
It is expected to include some details of his infrastructure spending and tax plans, but some market participants were worried that a lack of fresh direction could disappoint investors and weigh on the dollar.
Treasury Secretary Steven Mnuchin said in a televised interview on Sunday that Trump will use the event to preview some elements of his sweeping plans to cut taxes for the middle class, simplify the tax system and make American companies more globally competitive with lower rates and changes to encourage US manufacturing.
The dollar added 0.2 percent to 112.20 yen, after falling as low as 111.920 yen earlier in the session, its lowest since February 9.
The euro was steady on the day at $1.0562, as concerns about France’s upcoming election continued to weigh on the single currency.
The dollar was trading against the Indian rupee at Rs 66.71, the greenback was at 4.4410 in term of the Malaysian ringgit and the US currency was at 6.8769 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday. 79.36-79.37 (previous 79.35-79.35).
======================== Open Bid Rs.107.00 Open Offer Rs.107.20 ========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
======================== Bid Rate Rs.104.85 Offer Rate Rs.104.86 ========================
RUPEE IN LAHORE: The Pak rupee stayed unchanged on the buying side it, however, appreciated on selling side against the US dollar in the local currency market on Monday.
According to currency dealers, the dollar commenced trading on its last closing of Rs 107.15 and Rs 107.50 as its buying and selling rates, respectively.
At the close, no change in its value took place as it sustained its Saturday’s closing trend of Rs 107.15 on buying counter.
However, in the absence of selling spree, it registered reduction and ended at Rs 107.40 on selling counter, they added.
Furthermore, the local currency showed mixed patterns as it moved both ways versus the pound sterling.
The British currency was bought and sold at Rs 132.20 and Rs 133.20 against last closing rates of Rs 132.30 and Rs 133.00, respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 108.10 (buying) and Rs 108.20 (selling) and it also closed at the same rate. Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It closed at the same rate.