An easier trend persisted on the money market on Friday as the rupee continued slide in terms of the dollar in the process of trading, dealers said. The rupee almost sustained the overnight levels in relation to the dollar for buying and selling at Rs 110.53 and Rs 110.54 respectively, they said.
INTER-BANK MARKET RATES: In final Asian trade, the euro hovered near a three-year high against the sagging dollar on Friday, while improving investor risk appetite weighed on the yen.
The euro was 0.05 percent higher at $1.2074 after rising 0.45 percent overnight.
The common currency received its latest boost overnight as data showed the euro zone economy closed out 2017 with the strongest growth in nearly seven years.
The euro has been supported as US-euro zone debt yield spreads have narrowed recently with the European Central Bank poised to curtail its massive stimulus programme and eventually join the Federal Reserve in normalising monetary policy.
The euro has gained 0.6 percent so far this week and a rise above $1.2092 would take it to its highest level since January 2015.
The dollar was trading against the Indian rupee at Rs 63.333, the US currency was available at 3.994 in terms of Malaysian ringgit and the greenback was at 6.481 versus the Chinese yuan.
OPEN MARKET RATES: The rupee lost 20 paisas in terms of the dollar for buying and selling at Rs 111.30 and Rs 111.60 respectively, they said.
The rupee followed the same pattern against the euro, shedding 35 paisas for buying and selling at Rs 132.75 and Rs 134.75 respectively, they added.
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Open Bid Rs.111.30
Open Offer Rs.111.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.110.53
Offer Rate Rs.110.54
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RUPEE IN LAHORE: The Pak rupee continued slide for the second consecutive day in relation to the US dollar in the local currency market on Friday.
The short supply phenomenon of the US dollar continued to prevail in the currency market for another day which helped its appreciation at Rs 111.50 and Rs 111.80 for buying and selling, respectively, as compared to the overnight closing of Rs 111.25 and Rs 111.70 respectively, local currency dealers said.
Likewise, the national currency failed to hold its earlier recoveries as it registered reduction versus the pound sterling.
The pound's buying and selling rates rose from Thursday's closing of Rs 148.50 and Rs 149.20 to Rs 148.90 and Rs 149.60 respectively, they added.
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 110.65 (buying) and Rs 110.75 (selling) against same last week's rate. It closed at Rs 110.65 (buying) and Rs 110.75 (selling).
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