The rupee extended overnight slide against the dollar on the money market on Friday in process of trading activity, dealers said. Range-bound trading activity was again witnessed in the inter-bank market as the rupee sustained its present levels in relation to the dollar for buying and selling at Rs 110.53 and Rs 110.54, they said.
INTER-BANK MARKET RATES: In the final Asian trade, the dollar was lodged near a three-year low against a basket of currencies on Friday as fears of a possible US government shutdown added to underlying weakness that stems from the growing trend toward monetary policy normalisation around the world.
The dollar index stood at 90.378, having fallen to as low as 90.104 this week, a level last seen in December 2014. It has already lost roughly 2 percent so far in 2018.
The euro edged up 0.2 percent to $1.2261, near the three year high of $1.2323 struck on Wednesday. Having advanced 0.5 percent so far this week, the common currency could post a fifth consecutive week of gains.
The dollar eased 0.2 percent to 110.86 yen, with its rebound from Wednesday's four-month low of 110.19 already fading despite rise in US debt yields.
The dollar was trading against the Indian rupee at Rs 63.670, the US currency was at 3.935 in terms of the Malaysian ringgit and the greenback was available at 6.394 versus the Chinese yuan.
OPEN MARKET RATES: The rupee lost 20 paisas more in terms of the dollar for buying Rs 112.00 While the national currency sustained it's level for selling at Rs 112.30, they said.
The rupee also fell by 30 paisas against the euro for buying and selling at Rs 136.60 and Rs 138.60, they added.
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Open Bid Rs.112.00
Open Offer Rs.112.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.110.53
Offer Rate Rs.110.54
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RUPEE IN LAHORE: The Pakistani rupee depreciated against the US dollar in the local currency market on Friday.
According to currency dealers, the demand and supply situation of the greenback remained under pressure throughout the trading session following lack of buyers' interest in the market. Consequently, the dollar rose to Rs 111.90 and Rs 112.40 on buying and selling counters, respectively, as compared to the overnight closing rates of Rs 111.85 and Rs 112.40 respectively, they added.
On the other hand, the pound's buying and selling rates remained unchanged at Rs 154.00 and Rs 155.00 respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar stayed put against rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 112.25 (buying) and Rs 112.35 (selling) against last rate of Rs 112 (buying) and Rs 112.10 (selling). It closed at Rs 112.25 (buying) and Rs 112.35 (selling).
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