An easier trend persisted on the money market on Friday as the rupee continued its decline against the dollar in the process of trading, dealers said. The rupee also drifted lower in relation to the dollar, losing six paisas for buying and selling at Rs 104.76 and Rs 104.77 respectively, they said.
INTERBANK MARKET RATES: In the final Asian trade, the dollar hovered near a 3-1/2-month high versus the yen on Friday, after making big gains overnight as the markets prepared for a Donald Trump presidency that could stimulate the US economy fiscally and lift interest rates.
The US currency dipped slightly to 106.610 yen after surging to 106.950 yen overnight, its highest since July 21. The greenback was set to end the week with a 3.3 percent gain against its Japanese peer, which was initially expected to emerge on the winning end due to its perceived safe-haven status upon a Trump victory in the US presidential elections.
The dollar was trading against the Indian rupee at Rs 67.00, the greenback was at 4.2700 versus the Malaysian ringgit and the US currency was at 6.8119 in terms of the Chinese yuan.
OPEN MARKET RATES: The rupee lost further 10 paisas in terms of the dollar for buying and selling at Rs 106.00 and Rs 106.20 respectively, however, it picked up 15 paisas in relation to the euro for buying and selling at Rs 115.10 and Rs 116.60 respectively, they said.
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Open Bid Rs.106.00
Open Offer Rs.106.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.104.76
Offer Rate Rs.104.77
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RUPEE IN LAHORE: The Pakistani rupee remained under pressure for the second consecutive day against the major currencies including the US dollar and British pound in the local currency market on Friday.
The US dollar resumed trading on a healthy note and kept moving up during the day's trading session. Following the buyers' interest, the dollar's rate further climbed up at Rs 106.15 and Rs 106.45 on buying and selling sides, respectively, as compared to day earlier closing of Rs 106.00 and Rs 106.20, the currency dealers said.
Likewise, versus the pound sterling, the local currency also followed the same suit. The pound's buying and selling rates further slipped up from the Thursday's closing of Rs 130.80 and Rs 131.80 to Rs 132.90 and Rs 133.90, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at local currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 105 (buying) and Rs 105.10 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 105 (buying) and Rs 105.10 (selling).
Pound Sterling opened at Rs 132 (buying) and Rs 133 (selling). It did not observe further change in the second session and closed at Rs 132 (buying) and Rs 133 (selling).
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