THE RUPEE: steady trend

The rupee managed to hold the present trend in relation to the dollar on the money market on Friday in the process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee showed slight changes versus the dollar for buying and selling at Rs 156.17 and Rs 156.19 respectively, they said.
OPEN MARKET RATES: The rupee was almost unchanged against the dollar for buying and selling at Rs 155.80 and Rs 156.30 respectively, while it shed 20 paisas in terms of the euro for buying and selling at Rs 170.20 and Rs 172.40 respectively, they added.
In the final Asian trade, the dollar softened on Friday, drifting from multi-week highs against most major currencies as investors cautiously weighed fresh political turmoil in the United States and waited for the next turn in trade negotiations with China.
The greenback was marginally weaker against the safe-haven yen, which traded at 107.70 per dollar, and retreated from a two-year peak touched in Asian morning trade against the euro to steady around $1.0921.
It fell against the trade-sensitive Australian and New Zealand dollars, which gently rallied on hopes that next month's US-China trade talks will bring progress. Moves were slight, though and neither strayed far from two-week troughs against the greenback.
The dollar was trading against the Indian rupee at Rs 70.830, the greenback was at 4.185 versus the Malaysian ringgit and the US currency was available at 7.130 in terms the Chinese Yuan.

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Open Bid       Rs.155.80

Open Offer     Rs.156.30

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

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Bid Rate       Rs.156.17

Offer Rate     Rs.156.19

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RUPEE IN LAHORE: The Pak rupee marginally recovered its earlier losses versus the greenback in the local currency market on Friday.
Following lack of buyers' interest in the market, the greenback lost 10 paisas and ended lower for buying and selling at Rs 156.15 and Rs 156.40 against the opening trend of Rs 156.25 and Rs 156.50 respectively, local currency dealers said.
In addition, the rupee continued to keep going up for the third consecutive day against the pound sterling. Consequently, the pound's buying and selling rates further slid from the Thursday's closing of Rs 193.00 and Rs 194.00 to Rs 192.10 and Rs 193.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 20 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 156.50(buying) and Rs 156.60(selling) against last rate of Rs 156.70(buying) and Rs 156.80(selling).
It closed at Rs 156.50(buying) and Rs 156.60(selling).
The buying and selling rates of one tola of gold were Rs. 69,100 (selling) and Rs 69,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
Copyright Business Recorder, 2019