THE RUPEE: sharp gain

The rupee gained sharply against the dollar on the open market on Friday, dealers said.
INTER-BANK MARKET RATES: The rupee picked up about 43 paisas against the dollar for buying and selling at Rs 156.85 and Rs 156.95, they said.
OPEN MARKET RATES: The rupee picked up 60 paisa versus the dollar for buying and selling at Rs 156.50 and Rs 157.00, they said.
The greenback was available in terms of the euro for buying and selling at Rs 172.30 and Rs 174.80, they said.
In the final Asian trade, the Australian dollar slipped towards a 10-year trough while the yen hovered off its lows on Friday, as renewed hope that China and the United States could get their negotiations back on track began to fade.
The US currency was also supported by investors' month-end rebalancing needs, which has helped lift the dollar index to its highest level in a month.
The index is last up 0.1% at 98.555.
The dollar was trading against the Indian rupee at Rs 71.760, the US currency was at 4.220 versus the Malaysian ringgit and the greenback was available at 7.151 in terms of the Chinese yuan.

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Open Bid       Rs.156.50

Open Offer     Rs.157.00

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

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Bid Rate       Rs.156.85

Offer Rate     Rs.156.95

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RUPEE IN LAHORE: The Pak rupee appreciated its worth versus the major foreign currencies including the greenback and the British pound in the local currency market on Friday.
Following lack of buyers' interest in the market, the greenback could not sustain and ended lower for buying and selling at Rs 156.90 and Rs 157.40 against the opening trend of Rs 157.10 and Rs 157.55 respectively, local currency dealers said.
Similarly, the rupee also followed the suit in relation to the pound sterling. Consequently, the pound's buying and selling rates slid from the Thursday's closing of Rs 190.70 and Rs 192.00 to Rs 190.00 and Rs 191.25 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 50 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 157.30(buying) and Rs 157.40(selling) against last rate of Rs 157.80(buying) and Rs 157.90(selling).
It closed at Rs 157.30(buying) and Rs 157.40(selling).
The buying and selling rates of one tola of gold were Rs. 89,000 (selling) and Rs 88,500(buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
Copyright Business Recorder, 2019