INTERBANK MARKET RATES: In the first Asian trade, the dollar edged up, but remained not far from the seven-month low it plumbed against a currency basket after disappointing US employment data prompted investors to pare back expectations of US Federal Reserve rate hikes.
The dollar index, which tracks the greenback against a basket of six major currencies, edged up 0.1 percent to 96.798, not far from Friday’s nadir of 96.654, its lowest since Nov 9.
Sterling slipped, under pressure after the third terrorist attack in Britain in less than three months killed at least seven people on Saturday. The attack came days ahead of Thursday’s UK election, in which polls show British Prime Minister Theresa May’s lead over the opposition Labour Party has narrowed but is still intact.
US non-farm payrolls rose by 138,000 in May, Labor Department data showed on Friday, suggesting the labour market was losing momentum despite the unemployment rate falling to a 16-year low of 4.3 percent. Economists polled by Reuters had predicted an increase of 185,000. While market participants still expect the US central bank to raise interest rates this month, many expect a more dovish course for the second half of this year.
The dollar was trading against the Indian rupee at Rs 64.335, the greenback was at 4.265 in terms of the Malaysian ringgit and the US currency was available at 6.804 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 80.57-80.59 (previous 80.57-80.57).
OPEN MARKET RATES: The rupee maintained overnight level against the dollar for buying and selling at Rs 105.90 and Rs 106.10 respectively, they said. The rupee gained 20 paisas versus the euro for buying and selling at Rs 118.80 and 119.80 respectively, they said.
======================== Open Bid Rs.105.90 Open Offer Rs.106.10 ========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
======================== Bid Rate Rs.104.85 Offer Rate Rs.104.86 ========================
RUPEE IN LAHORE: The rupee-dollar parity stayed unchanged amid sluggish trend in the local currency market on Monday. The demand and supply situation of the US dollar remained intact that kept the local currency stabilized.
As a result, no change in its value took place as it maintained its opening trend of Rs 105.85 and Rs 106.10 as its buying and selling rate, said the local currency dealers.
Moreover, the local currency recovered on buying side while it stayed unchanged on selling side against the pound sterling. The British currency was bought and sold at Rs 133.70 and Rs 136.50 against Rs 135.90 and Rs 136.50 of Saturday, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Monday. The dollar opened at Rs 105.90 (buying) and Rs 106 (selling) against same last rate. It closed at the same rate.