THE RUPEE: dollar moves both ways

Rates moved both ways on the currency market on Friday in process of trading, dealers said. The rupee could not retain its overnight firmness in relation to dollar, losing 11 paisa for buying at 90.12 and shedding 12 paisa for selling at 90.15, they said.
INTERBANK MARKET: OPEN MARKET RATES: The rupee stayed put in terms of the greenback for buying and selling at 90.30 and 90.50, they said. The rupee, however, gained 33 paisa. against the euro for buying and selling at Rs 116.17 and Rs 116.67, they said.
According to the Reuters, in final Asian trade euro held steady against dollar and yen after rising in New York on hopes for progress in the European debt crisis. The single currency bought $1.2962 and 99.91 yen in Tokyo afternoon trade, compared with $1.2961 and 99.97 late Thursday in New York, where it had risen on successful debt auctions by France and Spain.

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Open Buying     Rs 90.12

Open Selling    Rs 90.15

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

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Buying          Rs 90.30

Selling         Rs 90.50

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RUPEE IN LAHORE: The Pak rupee maintained upward slide and was further improved by 10-paisa on buying side and 20-paisa on selling side in relation to the greenback in the local currency market on Friday.
According to the currency dealers, dollar remained under pressure and could not sustain in the absence of buyers. At the end of trading, the dollar was closed at Rs 90.20 and Rs 90.60, as its buying and selling rates, as compared to last day closing of Rs 90.30 and Rs 90.80, respectively.
However, the rupee also showed strength on buying side, while it stayed unchanged on selling side against the British pound. The pound's buying rate was declined from the overnight closing of Rs 139.50 to Rs 139.00 whereas its selling rate remained intact at Rs 140.00, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 89.00 (buying) and Rs 89.20 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 89.00 (buying) and Rs 89.20 (selling).
Pound Sterling opened at Rs 138.00 (buying) and Rs 138.90 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 138.00 (buying) and Rs 138.90 (selling).
Copyright Business Recorder, 2012