The rupee fluctuated but slightly versus the dollar on the local money market on Friday in the process of trading, dealers said. The rupee slipped by four paisas in relation to the dollar for buying and selling at Rs 121.52 and Rs 121.55 respectively, they said.
INTER-BANK MARKET RATES: In the final Asian trade, the dollar pulled back from an 11-month peak against a basket of major currencies on Friday as investors took profits after the currency's earlier rally, while sterling rebounded from a seven-month low after a slightly hawkish tilt from the Bank of England surprised the market.
The Philadelphia Federal Reserve's manufacturing index fell sharply to a 1-1/2 year low, raising concern about the world's largest economy and prompting some traders to book profits on bullish dollar bets, analysts said.
"The weak Philly Fed index reinforced fears that President Trump's trade war would hurt the US economic outlook and worsened the mood," said Kengo Suzuki, chief forex strategist at Mizuho Securities.
The dollar was trading against the Indian rupee at Rs 67.868, the greenback was at 4.010 in terms of the Malaysian ringgit and the US currency was available at 6.500 versus the Chinese yuan.
OPEN MARKET RATES: The rupee was unchanged in terms of the dollar for buying and selling at Rs 124.00 and Rs 124.50 respectively, they said. The rupee fell sharply against the euro for buying and selling at Rs 142.30 and Rs 144.30 respectively, they said.
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Open Bid Rs.124.00
Open Offer Rs.124.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.121.52
Offer Rate Rs.121.55
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RUPEE IN LAHORE: The Pak rupee depreciated on buying side while it remained firmed on selling side in relation to the greenback in the local currency market on Friday.
The greenback resumed trading on its overnight closing of Rs 124.00 and Rs 125.00 as its buying and selling rates, respectively. At the close, it appreciated by 45 paisas and ended for buying at Rs 124.45. However, it firmly held its opening trend for selling at Rs 125.00, local currency dealers said.
In addition, the local currency maintained declining trend for the second consecutive day against the pound sterling. Resultantly, the pound's buying and selling rates further rose from Thursday's closing of Rs 160.50 and Rs 161.50 to Rs 161.50 and Rs 162.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of dollar against rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs124 (buying) and Rs124.20 (selling) against same last rate. The dollar fluctuated in the second session and closed at Rs124 (buying) and Rs124.20 (selling).
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