As easier trend persisted on the money market on Friday as the rupee shed more grounds against the dollar in process of trading, money experts said. The rupee held the overnight levels in terms of the dollar for buying and selling at Rs 115.60 and Rs 115.62 respectively, they said.
INTER-BANK MARKET RATES: In the final Asian trade, the dollar neared a 1-1/2-month high against the yen on Friday, as an improvement in investor risk appetite buoyed equities and pushed US yields significantly higher.
The dollar was steady at 107.385 yen after gaining more than 0.5 percent overnight. A rise above 107.490 yen would take it to its highest since late February. The greenback has gained about 0.3 percent versus the yen this week.
Equities were boosted as Wall Street gained on Thursday in anticipation of strong corporate earnings, and as geopolitical worries eased on US President Donald Trump's suggestion that a military strike on Syria may not be imminent.
The dollar had slipped against the yen, a perceived safe-haven, earlier in the week as US-China trade tensions and the possibility of a US-led missile strike on Syria roiled the broader financial markets.
The dollar was trading against the Indian rupee at Rs 65.220, the greenback was at 3.878 in terms of the Malaysian ringgit and the US currency was at 6.292 in relation to the Chinese yuan.
OPEN MARKET RATES: The rupee depreciated by 30 paisas against the dollar for buying at Rs 116.60 and it also shed 20 paisas for selling at Rs 116.90, they said. The rupee, however, gained 20 paisas versus the euro for buying and selling at Rs 142.80 and Rs 144.30 respectively, they added.
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Open Bid Rs.116.60
Open Offer Rs.116.90
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.115.61
Offer Rate Rs.115.62
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RUPEE IN LAHORE: The Pak rupee remained under pressure on buying side while it stayed unchanged on selling side in relation to the US dollar in the local currency market on Thursday.
According to currency dealers, the dollar resumed trading on its overnight closing of Rs 116.50 and Rs 117.00 as its buying and selling rates, respectively. At the close, it further lost 10 paisas for buying at Rs 116.60. However, it firmly held its opening trend for selling at Rs 117.00, they added.
Moreover, the national currency showed strength as it recovered its earlier losses against the pound sterling. The pound's buying and selling slid from Thursday's closing of Rs 163.80 and Rs 164.60 to Rs 163.20 and Rs 164.00 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 116.70 (buying) and Rs 116.80 (buying) against same last rate. It closed at Rs 116.70 (buying) and Rs 116.80 (buying).
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