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Coronavirus
VERY HIGH
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14424hr
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587024hr
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21,365
Islamabad
72,150
KPK
110,875

Firmness prevailed on the local money market on Friday as the rupee sustained overnight levels against the dollar in the process of trading, dealers said.

INTER-BANK MARKET RATES: RATES: The rupee moved up slightly in terms of the dollar for buying and selling at Rs 154.95 and Rs 154.97 respectively, they said.

In the final Asian trade, the pound rose to a three-and-a-half year high versus the euro and the highest in more than a year versus the dollar after exit polls suggested a win for the Conservatives, which should help ensure the UK's smooth exit from the European Union.

The Chinese yuan rose in offshore trade and the Japanese yen fell after a source told Reuters that the United States and China have agreed some tariff reductions and a delay on tariffs set to go effect on Dec 15.

The early results suggest the election will relieve almost four years of uncertainty about when Brexit would take place, which should be supportive of the pound.

A successful scaling back of trade tension would relieve one major headwind to economic growth, which suggests lower demand for the safe-haven yen. Avoiding new tariffs should also be a boost to.

China's slowing economy, which should draw more investors to the yuan.

The dollar was trading against the Indian rupee at Rs 70.630, the greenback was available at 4.139 versus the Malaysian ringgit and the US currency was at 6.969 in relation to the Chinese yuan.

OPEN MARKET RATES: The rupee did not budge any side versus the dollar for buying and selling at Rs 154.40 and Rs 154.70 respectively, while it continued overnight slide against the euro, dropping 50 paisas for buying and selling at Rs 171.50 and Rs 173.50 respectively, they said.

========================
Open Bid       Rs 154.40
Open Offer     Rs 154.70
========================

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

========================
Bid Rate       Rs 154.95
Offer Rate     Rs 154.97
========================

RUPEE IN LAHORE: The Pak rupee depreciated its worth versus major foreign currencies including the greenback and the British pound in the open 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 154.10 and Rs 155.00 against the overnight closing trend of Rs 154.00 and Rs 154.30 respectively.

Similarly, the rupee also followed the suit as it lost almost Rs 4 in relation to the pound sterling. The pound's buying and selling rates significantly improved from the Thursday's closing of Rs 201.80 and Rs 203.20 to Rs 205.50 and Rs 207.00 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 10 paisa against rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.

The dollar opened at Rs 155.10 (buying) and Rs 155.20 (selling) against last rate of Rs 155 (buying) and Rs 155.10 (selling).

It closed at Rs 155.10 (buying) and Rs 155.20 (selling).

The buying and selling rates of one tola of gold were Rs. 85,500 (selling) and Rs 85,200 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2019