Firmness prevailed on the money market on Friday as the rupee resisted slide versus the dollar, whereas the local currency fell sharply against the euro in process of trading, experts said. The rupee did not show major changes versus the dollar for buying and selling at Rs 110.56 and Rs 110.58 respectively, they said.
INTER-BANK MARKET RATES: In the final Asian trade, the yen surged against the dollar on Friday after Bank of Japan Haruhiko Kuroda said the central bank will consider an exit from its ultra easy monetary policy if its inflation target is achieved in the year ending in March 2020.
The dollar index against a basket of six major currencies fell 0.1 percent to 90.223. The index had already shed 0.4 percent overnight, peeled away from a high of 90.932-its strongest since Jan 19-after Trump announced on Thursday he would impose steep tariffs on imported steel and aluminium.
The US currency was trading against the Malaysian ringgit at 3.915 and the dollar was available at 6.351 in terms of the Chinese yuan.
OPEN MARKET RATES: The rupee stayed put in terms of the dollar for buying and selling at Rs 111.90 and Rs 112.20 respectively, however it lost Rs 1.40 in relation to the euro for buying and selling at Rs 137.40 and Rs 138.90 respectively, they added.
========================
Open Bid Rs.111.90
Open Offer Rs.112.20
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
========================
Bid Rate Rs.110.56
Offer Rate Rs.110.58
========================
RUPEE IN LAHORE: The Pak rupee failed to sustain as it registered reduction versus the greenback in the local currency market on Friday.
According to currency dealers, the greenback resumed trading on a positive note following fresh buyers' interest in the market. As a result, it appreciated by 10 paisas and ended higher at Rs 111.90 and Rs 112.20 for buying and selling, respectively, as compared to the overnight closing trend of Rs 111.80 and Rs 112.20 respectively, they added.
Moreover, the national currency moved both ways in terms of trading against the pound sterling. The British currency was bought and sold at Rs 153.30 and Rs 154.10 against Rs 153.10 and Rs 154.90 of Thursday, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of dollar against the rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 111.70 (buying) and Rs 111.80 (selling) against same last rate. It closed at Rs 111.70 (buying) and Rs 111.80 (selling).
Comments
Comments are closed for this article.