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The rupee moved both ways against the dollar on the local currency market on Friday in the process of trading activity, dealers said.

INTER-BANK MARKET RATES: The rupee picked up two paisas in relation to the dollar for buying at Rs 155.38 while the national currency was unmoved for selling at Rs 155.42, they said.

OPEN MARKET RATES: The rupee was inert in terms of the dollar for buying at Rs 155.20 while it fell by 10 paisas for selling at Rs 155.50, they said. The rupee shed its value in relation to the euro for buying and selling at Rs 170.60 and Rs 172.10, they said.

In the final Asian trade, the dollar and riskier trade-exposed currencies found some support on Friday as fresh hopes for a breakthrough in Sino-US trade talks were tempered with caution.

White House economic adviser Larry Kudlow said late on Thursday that the two parties were getting close to a deal and the "mood music is pretty good".

He offered no new details, but the sentiment was enough to reverse a little of the safe-haven Japanese yen's overnight gain and to buoy the Australian and New Zealand dollars.

The dollar was trading against the Indian rupee at Rs 71.715, the greenback was at 4.152 in terms of the Malaysian ringgit and the US currency was available at 7.009 versus the dollar.

========================
Open Bid       Rs 155.20
Open Offer     Rs 155.50
========================

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

========================
Bid Rate       Rs 155.38
Offer Rate     Rs 155.42
========================

RUPEE IN LAHORE: The Pak rupee depreciated its worth versus major foreign currencies including the greenback and the British pound in the local currency market on Friday.

The short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 155.10 and Rs 155.60 against the opening rate of Rs 155.00 and Rs 155.30 respectively, local currency dealers said.

Similarly, the rupee also followed the suit in relation to the pound sterling which was bought and sold at Rs 1991.10 and Rs 199.90 against the Thursday's closing trend of Rs 198.30 and Rs 199.00 respectively, they added.

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

The dollar opened at Rs 155.50 (buying) and Rs 155.65 (selling) against same last rate.

It closed at Rs 155.50 (buying) and Rs 155.65 (selling).

The buying and selling rates of one tola of gold were Rs. 86,750 (selling) and Rs 86,500 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2019