The rupee continued fall against the dollar on the currency market on Friday in the process of trading, money experts said. The rupee maintained its present levels against the dollar for buying and selling at Rs 115.60 and Rs 115.61 respectively, they said.
INTER-BANK MARKET RATES: In the final Asian trade, the British pound flirted with two-week lows against the dollar on Friday following comments from the Bank of England chief and soft UK retail sales data, while the yen eased as risk sentiment was on the mend.
Still, uncertainties on issues ranging from US trade policies to North Korea and Syria kept many investors on hold, and the euro/dollar and the dollar/yen could see one of their narrowest weekly range in months.
Bank of England Governor Mark Carney dampened widespread expectations for an interest rate hike in May on Thursday, pointing out there were also "other meetings" this year.
Disappointing UK retail sales released earlier on Thursday also raised some doubts about the outlook for UK rate hikes. The British pound fell to a two-week low of $1.4069 on Thursday and last stood at $1.4074. Against the euro, it hit a three-week low of 0.87725 pound per euro and last stood at 0.8765.
The euro was little changed against the dollar at $1.2338, having dipped 0.24 percent the previous day but still hugging its well-worn range.
The dollar was trading against the Indian rupee at Rs 66.008, the greenback was at 3.890 in terms of the Malaysian ringgit and the US currency was available at 6.286 versus the Chinese yuan.
OPEN MARKET RATES: The rupee failed to resist further slide, losing more 20 paisas in relation to the dollar for buying and selling at Rs 117.40 and Rs 117.70 respectively, however it recovered 30 paisas versus the euro for buying and selling at Rs 144.30 and Rs 145.80 respectively, they added.
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Open Bid Rs.117.40
Open Offer Rs.117.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.115.60
Offer Rate Rs.115.61
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RUPEE IN LAHORE: The Pak rupee maintained declining trend for another day versus the greenback in the local currency market on Thursday.
According to currency dealers, the short supply phenomenon of the greenback prevailed throughout the trading session for another day which helped its further appreciation for buying and selling at Rs 117.50 and Rs 117.70 as compared to the overnight closing trend of Rs 117.30 and Rs 117.50 respectively.
On the contrary, the national currency showed strength as it recovered its earlier losses against the pound sterling. The pound's buying and selling rates slid from Thursday's closing of Rs 165.65 and Rs 166.40 to Rs 164.50 and Rs 165.30 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 116.60 (buying) and Rs 116.70 (buying) against same overnight value. It closed at Rs 116.60 (buying) and Rs 116.70 (buying).
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