INTER-BANK MARKET RATES: OPEN MARKET RATES: In line with the inter-bank market trend, the rupee gained 40 paisas in relation to the dollar for buying and selling at Rs 138.20 and Rs 138.70 respectively, they said. The rupee, however, depreciated by 35 paisas against the euro for buying and selling at Rs 155.75 and Rs 157.55 respectively, they said.
In the first Asian trade, the dollar fell versus a basket of its peers on Monday as rising expectations of a US-Sino trade deal led investors to shift away from the safety of the greenback into riskier assets.
Both the United States and China reported progress in five days of negotiations in Beijing last week, although the White House said much work remains to be done to force changes in Chinese trade behaviour.
Negotiations will continue next week in Washington as investors hope for an end to the trade war between the world's two largest economies.
In Asia, the yen was steady versus the greenback at 110.53.
The escalating trade disputes between the world's largest economies have kept markets highly volatile since last year.
US duties on $200 billion worth of Chinese imports are set to rise from 10 percent to 25 percent if no deal is reached by March 1 to address US demands that China curb forced technology transfers and better enforce intellectual property rights.
The dollar index, a gauge of its value versus six major peers, was down by 0.16 percent at 96.74.
The dollar was trading against the Indian rupee at Rs 71.475, the greenback was at 4.078 in terms of the Malaysian ringgit and the US currency was at 6.756 versus the Chinese yuan.
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Open Bid Rs.138.20
Open Offer Rs.138.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Bid Rate Rs.138.70
Offer Rate Rs.138.75
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RUPEE IN LAHORE: The Pak rupee showed strength as it recovered its earlier losses versus the greenback on the local currency market on Monday.
Following lack of buyers' interest in the market, the greenback registered reduction and ended lower for buying and selling at Rs 138.00 and Rs 139.00 against the previous closing trend of Rs 138.65 and Rs 139.20 respectively, local currency dealers said.
Moreover, the national currency stayed unchanged against the pound sterling for buying at Rs 177.00 whereas it gained 50 paisas and ended for selling at Rs 178.00 against the last closing rate of Rs 178.50, they added.