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The rupee did not move sharply against the dollar on the money market on Monday in the process of trading activity, dealers said. The rupee did not move sharply against the dollar for buying and selling at Rs 105.39 and Rs 105.41 respectively, they said.

INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee-dollar parity rates were not issued on Monday.

In the first Asian trade, the dollar struggled near a 13-month low against a basket of major currencies on Monday as US political turmoil dampened hopes for quick passage of President Donald Trump's stimulus and tax reform agendas and the euro extended gains.

The Trump administration, already dogged by investigations into alleged Russian meddling in the US election, took a fresh hit on Friday after White House spokesman Sean Spicer resigned, highlighting the upheaval within the president's inner circle.

The dollar index, which tracks the greenback against six major currencies, was little changed at 93.887, after touching 93.823, its lowest since June 2016.

"For any chance of the dollar bouncing back in the near term, it will need a rebound in US yields," said Junichi Ishikawa, senior forex strategist at IG Securities in Tokyo.

"The current US political situation is weighing heavily on US yields. So we will need strong US data to dislodge US yields from their low levels," he said.

The dollar was trading against the Indian rupee at Rs 64.445, the greenback was at 4.282 in terms of the Malaysian ringgit and the US currency was at 6.760 versus the Chinese yuan.



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





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Bid Rate Rs 105.39

Offer Rate Rs.105.41

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RUPEE IN LAHORE: The Pakistani rupee remained under pressure against the foreign currencies including the US dollar and the British pound in local currency market on Monday.

According to the currency dealers, the short supply phenomenon of the US dollar in the currency market helped its appreciation at Rs 107.80 and Rs 108.30 on buying and selling side, respectively, as compared to the overnight closing trend of Rs 107.65 and Rs 107.70 respectively, they added.

Likewise, the local currency also followed the same suit versus the pound sterling. The pound's buying and selling rates rose from Saturday's closing rates of Rs 138.75 and Rs 139.50 to Rs 139.00 and Rs 139.80 respectively, they said.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Monday.

The dollar opened at Rs 106.40 (buying) and Rs 106.50 (selling) against same last rate. It closed at Rs 106.40 (buying) and Rs 10650 (selling).

Copyright Business Recorder, 2017


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