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Weak trend was seen on the currency market on Friday as the rupee fell modestly versus the dollar in process of trading, dealers said. RATES: The rupee managed to hold last levels against the dollar for buying and selling at Rs 154.89 and Rs 154.91, they said.

INTER-BANK MARKET RATES: In the final Australian trade, the sterling was precariously poised as it headed for its worst week in more than two years on Friday, hobbled by familiar fears of a chaotic British exit from the European Union, while firm data helped the dollar arrest its recent slide.

Overnight the pound slipped below $1.30 for the first time in a fortnight. It was last quoted at $1.3022 as worries grow about whether a deal can be secured before the December 2020 hard deadline.

Cable has given up all the gains won after Prime Minister Boris Johnson was re-elected last week and has slumped 2.3% against the dollar since Monday. It has fared even worse against the euro, headed for its largest weekly loss since July 2017.

The dollar was trading against the Indian rupee at Rs 71.160, the greenback was available versus the Malaysian ringgit at 4.140 and the US currency was at 7.009 in terms of the Chinese yuan.

OPEN MARKET RATES: The rupee shed 10 paisas versus the dollar for buying at Rs 154.50 while it dropped by 20 paisas for selling at Rs 154.90, they said. The rupee gained 30 paisas in terms of the euro for buying and selling at Rs 170.70 and Rs 172.20, respectively, they said.

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Open Bid Rs 154.50

Open Offer Rs 154.90

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

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Bid Rate Rs 154.89

Offer Rate Rs 154.91

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RUPEE IN LAHORE: The Pak rupee witnessed divergent trend as it moved both ways in relation to the greenback in the local currency market on Friday.

Following fluctuating demand and supply situation in the market, the greenback observed volatile trend throughout the trading session and ended for buying and selling at Rs 154.60 and Rs 154.95 against the previous closing rate of Rs 154.40 and Rs 155.00 respectively, local currency dealers said.

Furthermore, the rupee showed strength as it recovered its day earlier losses versus the pound sterling. Consequently, the pound's buying and selling rates slid from the Thursday's closing of Rs 201.50 and Rs 203.50 to Rs 200.50 and Rs 201.80 respectively, they added.

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

The dollar opened at Rs 154.90 (buying) and Rs 155 (selling) against last rate of Rs 155 (buying) and Rs 155.10 (selling).

It closed at Rs 154.90 (buying) and Rs 155 (selling).

The buying and selling rates of one tola of gold were Rs 84,400 (selling) and Rs 84,200 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2019