#Currency settles at 278.48 against the greenback in inter-bank market

Inter-bank market rates for dollar on Monday

BID                            Rs 278.48

OFFER                      Rs 278.68

Open-market movement

In the open market, the PKR lost 8 paise for buying and 3 paise for selling against USD, closing at 277.89 and 279.54, respectively.

Against Euro, the PKR lost 1.13 rupee for buying and 1.38 rupee for selling, closing at 289.20 and 291.50, respectively.

Against UAE Dirham, the PKR lost 4 paise for buying and 5 paise for selling, closing at 75.60 and 76.10, respectively.

Against Saudi Riyal, the PKR lost 3 paise for buying and remained unchanged for selling, closing at 73.88 and 74.35, respectively.

Open-market rates for dollar on Monday

BID                            Rs 277.89

OFFER                      Rs 279.54

At close, the currency settled at 278.48 for a loss of Re0.10 against the greenback.

During the previous week, the rupee decreased marginally against the US dollar as it lost Re0.05 or 0.2% in the inter-bank market.

The local unit closed at 278.47, against 278.42 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).

Internationally, the Japanese yen traded around five-month lows on Monday against a US dollar underpinned by rising US yields as thin year-end liquidity kept most currencies in tight ranges.

The US dollar index measure against major rivals was flat at 107.98.