The rupee continued slide against the dollar on the money market on Friday in the process of trading, marketmen said.
INTER-BANK MARKET RATES: The rupee dropped 25 paisas versus the dollar for buying and selling at Rs 158.70 and Rs 158.75 respectively, dealers said.
OPEN MARKET RATES: The rupee moved both ways versus the dollar, losing 20 paisas for buying at Rs 158.70 however, it picked up the same amount for selling at Rs 159.30, they said.
The rupee shed 70 paisas in relation to the euro for buying and selling at Rs 179.00 and Rs 181.50 respectively, they said.
In the final Asian trade, the dollar was steady on Friday, having regained some traction against its peers after stronger-than-expected US inflation data tempered the prospect of an aggressive Federal Reserve interest rate cut later this month.
The dollar was little changed at 108.390 yen after rebounding from a low of 107.860 plumbed on Thursday in response to dovish comments from Fed Chairman Jerome Powell, which had revived the chance of a 50 basis-point cut.
The dollar index against a basket of six major currencies stood little changed at 96.972 after retracing much of its losses on Thursday, when it had briefly stooped to a six-day low of 96.795.
The index hit the low after Powell said in a midweek congressional testimony that the Fed was ready to "act as appropriate," given the US economy was still under threat from disappointing factory activity, tame inflation and a simmering Sino-US trade war.
The dollar was trading against the Indian rupee at Rs 68.535, the greenback was available at 68.44 versus the Malaysian ringgit and the US currency was at 4.111 in terms of the Chinese yuan.
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Open Bid Rs 158.70
Open Offer Rs 159.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs 158.70
Offer Rate Rs 158.75
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RUPEE IN LAHORE: The Pak rupee-greenback parity stayed unchanged amidst sluggish trend in the local currency market on Friday.
According to currency dealers, the greenback did not observe any change in its demand and supply situation as it firmly sustained its opening trend throughout the trading session for buying and selling at Rs 159.00 and Rs 159.80 respectively.
Moreover, the rupee also remained unchanged against the pound sterling for buying at Rs 199.20 whereas it lost 50 paisas and ended lower for selling at Rs 201.00 against the previous rate Rs 200.50, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 25 paisas against the rupee at the local currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 160 (buying) and Rs 160.10 (selling) against last rate of Rs 159.75 (buying) and Rs 159.85 (selling). It closed at Rs 160 (buying) and Rs 160.10 (selling).
The buying and selling rates of one tola of gold was Rs 80,300 (selling) and Rs 80,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
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