An easier trend persisted on the money market on Friday as the rupee tended lower versus the dollar in the process of trading, dealers said. The rupee slipped by one paisa versus dollar for buying and selling at Rs 104.85 and Rs 104.86 respectively, they said.
INTERBANK MARKET RATES: In the final Asian trade, the dollar held hefty gains against major currencies, after scaling 14-year highs against the euro and a broader basket of currencies as markets repositioned for a faster pace of rate rises by the Federal Reserve over the next year.
The dollar has been on a tear since the Nov. 8 election of Donald Trump, whose administration is expected to embark on inflation-stoking stimulus policies including tax cuts and deregulation. The dollar was trading against the dollar at Rs 67.82, the greenback was at 4.4750 versus the Chinese yuan and the US currency was at 6.9470 in relation to the Chinese yuan.
OPEN MARKET RATES: The rupee shed 10 paisas against the greenback for buying at Rs 107.50 and it also lost 20 paisas for selling Rs 107.80 respectively, they said. The rupee, however, picked up 70 paisas in relation to the euro for buying and selling at Rs 112.00 and Rs 113.50 respectively, they said.
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Open Bid Rs.107.50
Open Offer Rs.107.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.104.85
Offer Rate Rs.104.86
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RUPEE IN LAHORE: The Pak rupee remained under pressure for the third consecutive day as it registered further reduction against the US dollar in the local currency market on Friday.
The trading activity of the US dollar resumed on a positive note amidst lack of buyers' interest in the market. At close of the trading, the dollar ended higher at Rs 107.80 and Rs 108.10 on buying and selling sides, respectively, as compared to the overnight closing rates of Rs 107.75 and Rs 107.80, said the local currency dealers.
Moreover, the local currency showed strength and remained unchanged on buying side while it appreciated on selling side versus the pound sterling. The pound was bought and sold at Rs 132.80 and Rs 133.60 against Rs 132.80 and Rs 134.50 of Thursday, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at currency exchange shops of Islamabad and Rawalpindi here on Friday.
The dollar resumed trading at Rs 107 (buying) and Rs 107.50 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 107 (buying) and Rs 107.50 (selling).
Pound Sterling opened at Rs 135 (buying) and Rs 135.10 (selling) against same last week's rate. It did not observe further change in the second session and closed at Rs 135 (buying) and Rs 135.10 (selling).
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