Bulls dominated the currency market on Friday as the rupee firmly held the upward trend against the dollar in the process of trade, dealers said. The rupee maintained its rising trend in relation to the dollar, picking up more four paisas for buying and selling at Rs 104.66 and Rs 104.68 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee sustained overnight levels versus the dollar for buying and selling at Rs 105.60 and Rs 105.80 respectively, while it lost 90 paisas in terms of the euro for buying and selling at Rs 116.50 and Rs 117.50 respectively, they added.
In the final Asian trade, the euro hovered near a three-week high on Friday, standing atop big gains made overnight after the European Central Bank roiled markets by suggesting that it was done cutting interest rates for now.
The safe-haven yen rose against the dollar as equities reacted negatively to the ECB's forward guidance, with Tokyo's Nikkei slipping 1.5 percent. The ECB on Thursday rolled out a series of bold easing measures as expected, including an expansion in asset buying and a deeper cut to already negative deposit rates.
The euro rallied hard, however, after ECB President Mario Draghi undid the very stimulus he hoped to achieve by signalling there would be no further rate cuts.
The dollar was trading against the Indian rupee at Rs 67.08, the greenback was available at 4.0850 in terms of the Malaysian ringgit and the US currency was at 6.4927 versus the Chinese yuan.
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Open Bid Rs.105.60
Open Offer Rs.105.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.104.66
Offer Rate Rs.104.68
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RUPEE IN LAHORE: The rupee did fail to keep going up against the major currencies, such as the American dollar and the British pound, on Thursday.
The dollar ended at Rs 105.60 and Rs 106.10 on buying and selling respectively as compared with the overnight of Rs 105.30 and Rs 106.00 respectively against the dollar that staged a comeback following buyers' interest.
The rupee too drifted down on buying and selling side against the pound sterling that was traded at Rs 149.00 and Rs 150.00 on buying and selling as compared with the Thursday closing of Rs 148.30 and Rs 149.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained strength against the Pak rupee at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).
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