The rupee shrugged off persisting weakness versus the dollar on the currency market on Friday in the process of trading activity, money experts said. The rupee fluctuated slightly in terms of the dollar for buying and selling at Rs 115.48 and Rs 115.51 respectively, they said.
INTER-BANK MARKET RATES: In the final Asian trade, the dollar stalled against its peers on Friday as the recovery seen earlier this week petered out ahead of the new quarter, which could potentially bring renewed pressure on the greenback.
Against a basket of six other major currencies, the dollar was off 0.2 percent to 89.985.
The index was up nearly 0.6 percent for the week, during which it touched a one-week high of 90.178 on factors including easing of concerns over global trade protectionism and perceived progress on North Korea's nuclear programme.
The dollar index was down more than 2 percent for the quarter, its fifth straight quarter of declines.
The dollar was trading against the Malaysian ringgit at 3.857 and the US currency was available at 6.280 versus the Chinese yuan.
OPEN MARKET RATES: The rupee managed to pick up 20 paisas in relation to the dollar for buying and selling at Rs 115.80 and Rs 116.30 respectively, they said. The rupee also rose by 50 paisas in relation to the euro for buying and selling at Rs 141.00 and Rs 142.80 respectively, they added.
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Open Bid Rs.115.80
Open Offer Rs.116.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.115.48
Offer Rate Rs.115.51
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RUPEE IN LAHORE: The Pak rupee stayed unchanged on buying side while appreciated on selling side in relation to the greenback on the local currency market on Friday.
According to currency dealers, the greenback resumed trading on its overnight closing of Rs 116.00 and Rs 116.50 as its buying and selling rates, respectively. At the close, it firmly held its opening trend for buying at Rs 116.00. However, it slid by 10 paisas for selling at Rs 116.40, they added.
Furthermore, the local currency showed strength as it registered appreciation in terms of trading versus the pound sterling. The pound's buying and selling rates depreciated from Thursday's closing of Rs 160.60 and Rs 162.00 to Rs 160.50 and Rs 161.20 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed recovery of 10 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 115.90 (buying) and Rs 116 (buying) against last rate of Rs 116 (buying) and Rs 116.10 (selling). It closed at Rs 115.90 (buying) and Rs 116 (buying).
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