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Markets Print edition: 2020-10-17

THE RUPEE: Gains extend

Published October 17, 2020 Updated October 17, 2020 03:08am

KARACHI: On Friday, on market close, PKR again showed gain in value against USD in both interbank and open markets. It also went up against other major currencies in open market like yesterday.

INTER-BANK MARKET RATES: In the interbank market, on market close, Pakistan Rupee gained 30 paisas for both buying and selling against USD over yesterday's rates closing at 162.40 and 162.50 respectively.

OPEN MARKET RATES: In the open market, PKR gained 60 paisas for buying and 40 paisas for selling over yesterday's rates closing at 162.50 and 163 respectively.

Against Euro, PKR went up by 50 paisas for buying while remaining unchanged for selling closing at 189.50 and 191 respectively.

Against UAE Dirham, PKR remained unchanged for buying and gained 5 paisas for selling closing at 44.20 and 44.40 respectively.

Against Saudi Riyal, PKR gained 20 paisas for buying and 30 paisas for selling closing at 42.80 and 43 respectively.

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Open Bid       Rs 162.50
Open Offer     Rs 163.00
========================

Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday

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Bid Rate       Rs 162.40
Offer Rate     Rs 162.50
========================

RUPEE IN LAHORE: The Pak rupee maintained upward journey for the second consecutive day against the American dollar in the local currency market on Friday.

Following lack of buyers' interest in the market for another day, the greenback remained under selling pressure and closed further lower for buying and selling at Rs 162.70 and Rs 163.70 against the overnight closing rate of Rs 163.00 and Rs 164.00 respectively, local currency dealers said.

Moreover, the rupee gained 50 paisas against the pound sterling for buying and ended at Rs 208.50 against the opening rate of Rs 209.00 whereas it firmly closed for selling at Rs 210.50, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi, here on Friday.

The dollar opened at Rs163.40 (buying) and Rs163.50 (selling) against the same last rate.

It closed at Rs163.40 (buying) and Rs163.50 (selling).

The buying and selling rates of one tola of gold was Rs115,300 (selling) and Rs115,100 (buying) at the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020

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