THE RUPEE: two-way trade

The rupee moved both ways against the dollar on the local currency market on Friday in the process of trading, dealers said. The rupee continued overnight weakness losing two-paisa in terms of the dollar for buying and selling at Rs 104.24 and Rs 104.26 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, gave up two-paisa against the dollar for buying and selling at Rs 104.50 and Rs 104.70 respectively, while it gained one rupee in terms of the euro for buying and selling at Rs 116.00 and Rs 117.00, they said.
In the final Asian trade, the euro nursed losses, having come under broad pressure after the European Central Bank gave a sobering assessment of the euro zone economy and suggested it may have to beef up its already massive stimulus program.
The common currency slid as far as $1.1087, from levels above $1.1200. It last stood at $1.1127. Against the yen, it was down 0.4 percent at 133.00 after skidding to a four-month low of 132.985. The dollar was available at Rs 66.38 versus the Indian rupee, the greenback was at 4.2600 in terms of the Malaysian ringgit and the US currency was at 6.3559 in terms of the Chinese yuan.

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Open Bid       Rs.104.50

Open Offer     Rs.104.70

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.

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Bid Rate       Rs.104.24

Offer Rate     Rs.104.26

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RUPEE IN LAHORE: The Pak rupee recovered in relation to the greenback and British pound at the open currency markets of Lahore on Friday.
According to currency dealers, the dollar resumed trading at overnight closing of Rs 104.80 and Rs 105.00 on buying and selling counters, respectively. Due to falling demand of the dollar at the local kerb, it lost its worth by 10-paisa on buying side at Rs 104.70 and 05 paisa on selling side at Rs 104.95.
Likewise, the local currency appreciated its worth against the British pound. The Pound sterling was purchased and sold at Rs 158.80 and Rs 159.40 as against Rs 159.30 and Rs 160.55 on Thursday, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee on the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 104 (buying) and Rs 104.25 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 104 (buying) and Rs 104.25 (selling). Pound Sterling opened at Rs 161 (buying) and Rs 161.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 161 (buying) and Rs 161.50 (selling).
Copyright Business Recorder, 2015