In interbank market, the rupee fell sharply in relation to the dollar, losing Rs 4.75 for buying at Rs 138.75 and it also shed Rs 3.85 for selling at Rs 139.25, dealers said.
OPEN MARKET RATES: The rupee was down by Rs 1.70 versus the dollar for buying at Rs 136.70 and it also lost Rs 2.30 for selling at Rs 137.70, they said.
The domestic currency lost sharply in terms of the euro for buying and selling at Rs 154.50 and Rs 157.75, they said.
In the final Asian trade, the dollar trod water in nervous trade on Friday ahead of a meeting of US and Chinese leaders that might, or might not, lead to a truce in the Sino-US trade war, which would boost emerging market currencies at the expense of safe havens.
The greenback has been under pressure this week on growing expectations that the Federal Reserve would slow down its pace of monetary tightening, a view reinforced by comments on Wednesday from Chairman Jerome Powell.
Despite the dovish comments from Fed officials, there was no large scale dollar sell-off, partly due to the strength of the US economy, weakening growth elsewhere, and dollar's own status as a safe haven amid the Sino-US trade war.
The dollar was trading against the India rupee at Rs 69.840, the greenback was available at 4.186 in terms of the Malaysian ringgit and the US currency was at 6.946 versus the Chinese yuan.
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Open Bid Rs.136.70
Open Offer Rs.137.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.138.75
Offer Rate Rs.139.25
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RUPEE IN LAHORE: The Pak rupee drastically declined its worth in process of trading versus the major foreign currencies including the greenback and British pound in the local currency market on Friday.
According to currency dealers, the short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 137.50 and Rs 139.00 against the overnight closing trend of Rs 135.00 and Rs 135.40 respectively.
Likewise, the national currency also followed the same suit in relation to the pound sterling. Consequently, the pound's buying and selling rates rose from Thursday's closing of Rs 171.50 and Rs 172.60 to Rs 172.20 and Rs 174.00 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar witnessed a major increase of Rs 9 against the rupee at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 144 (buying) and Rs 144.50 (selling) against last rate of Rs 135 (buying) and Rs 135.05 (selling). It closed at Rs 144 (buying) and Rs 144.50(selling).
The buying and selling rates of one tola of gold were Rs 63,500 (selling) and Rs 63,300 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
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