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Firm trend was seen on the currency market on Friday as the rupee did not move any side versus the dollar in the process of trading activity, dealers said.

INTER-BANK MARKET RATES: The rupee firmed in terms of the dollar for buying and selling at Rs 155.88 and Rs 155.90 respectively, dealers said.

In the final Asian trade, the pound nursed losses versus the dollar and the euro on Friday after Prime Minister Boris Johnson's call for an election heightened uncertainty over Britain's divorce from the European Union.

The British currency is likely to remain fragile ahead of a meeting later on Friday where European Union officials may decide how long they will extend Britain's deadline to leave the EU beyond the current date of Oct. 31.

At this stage, an election looks unlikely because the main opposition Labour Party has withheld its support and other opposition parties have rejected the offer.

However, the twists and turns of the Brexit process have proved too complex to predict, which is likely to discourage some investors from taking on excessive risk before the EU agrees a new deadline for the Britain's departure from the bloc.

The dollar was trading against the Indian rupee at Rs 70.990, the greenback was at 4.186 in terms of the Malaysian ringgit and the US currency was at 7.072 in terms of the Chinese yuan.

OPEN MARKET RATES: The rupee held the overnight levels in relation to the dollar for buying and selling at Rs 155.80 and Rs 156.10 respectively, they added. The rupee, however gained 30 paisas versus the euro for buying and selling at Rs 172.50 and Rs 174.50 respectively, they added.

========================
Open Bid       Rs.155.80
Open Offer     Rs.156.10
========================

Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.

========================
Bid Rate       Rs.155.88
Offer Rate     Rs.155.90
========================

RUPEE IN LAHORE: The Pak rupee-greenback parity stayed unchanged amid sluggish trading activity in the local currency market on Friday.

According to currency dealers, the demand and supply situation of the greenback did not observe any change throughout the trading session as it firmly sustained its opening trend for buying and selling at Rs 155.80 and Rs 156.00 respectively.

In addition, the rupee showed strength as recovered its earlier losses versus the pound sterling. The pound's buying and selling rates declined from the Thursday's closing of Rs 199.90 and Rs 200.80 to Rs 199.00 and Rs 199.80 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 15 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.

The dollar opened at Rs 156.20 (buying) and Rs 156.30 (selling) against last rate of Rs 156.05 (buying) and Rs 156.15 (selling).

It closed at Rs 156.20 (buying) and Rs 156.30 (selling).

The buying and selling rates of one tola of gold were Rs. 87,100 (selling) and Rs 87,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2019