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KARACHI: On Friday, after last previous two days' losses, PKR largely remained stable against USD in interbank and open markets. It however, continued to fall against Euro in open market. World financial markets were faced uncertainty on Friday after U.S. Treasury Secretary Steven Mnuchin proposed an end to pandemic relief for struggling businesses, sparking a rare clash between the central bank and Treasury.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee remained unchanged for buying while gaining 10 paisas for selling against USD over yesterday's rates closing at 160.60 and 160.70 respectively.

OPEN MARKET RATES: In the open market, PKR gained 10 paisas for buying while remaining unchanged for selling over yesterday's rates closing at 160.50 and 161 respectively.

Against Euro, PKR fell by 50 paisas for buying and selling closing at 189.50 and 191 respectively.

Against UAE Dirham, PKR gained 10 paisas for buying and selling closing at 43.80 and 44.10 respectively.

Against Saudi Riyal, PKR lost 10 paisas for buying and 5 paisas for selling closing at 42.50 and 42.75 respectively.

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Open Bid       Rs 160.50
Open Offer     Rs 161.00
========================

Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday

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Bid Rate       Rs 160.60
Offer Rate     Rs 160.70
========================

RUPEE IN LAHORE: The Pak rupee stayed unchanged on the buying side while it depreciated its worth on the selling side in relation to the American dollar in the local currency market on Friday.

According to currency dealers, the dollar did not witness any change in its demand as it firmly sustained its opening rate for buying at Rs 160.50 whereas it gained 20 paisas and closed for selling at Rs 162.00 against the overnight closing trend of Rs 161.80.

On the other hand, the local currency continued declining trend for the fifth consecutive day against the pound sterling. Consequently, the pound's buying and selling rates further rose from Thursday's closing of Rs 210.40 and Rs 212.00 to Rs 211.50 and Rs 213.00 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 50 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.

The dollar opened at Rs 161(buying) and Rs161.10(selling) against last rate of Rs 160.50(buying) and Rs160.60(selling).

It closed at Rs 161(buying) and Rs161.10(selling).

The buying and selling rates of one tola of gold was Rs111,700(selling) and Rs111,500(buying) at the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020