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The rupee moved cautiously against the dollar on the money market on Friday in process of trading activity, dealers said.

INTER-BANK MARKET RATES: RATES: The rupee gained five paisas versus the dollar for buying and selling at Rs 154.55 and Rs 154.57, they said.

OPEN MARKET RATES: The rupee, however, shed 10 paisas in relation to the dollar for buying and selling at Rs 154.60 and Rs 154.90, they said. The rupee was higher in terms of the euro for buying and selling at Rs 170.20 and Rs 171.70, they said.

In the final Asian trade, the euro hovered near a seven-week low against the dollar on Friday after the European Central Bank was seen as more dovish than expected, while anxiety over China's coronavirus outbreak propped up the safe-haven yen.

The euro stood at $1.1055, touching a seven-week low of $1.1036 hit in US trade on Thursday after the ECB held interest rates steady and launched a broad review of its policy.

Purchasing Managers' Index (PMI) data from Germany and the euro zone due later on Friday is the next focus for the currency.

The common currency was also undermined by the coronavirus threat in China because some countries in the currency bloc, notably Germany, have big trade exposures to the Asian economic giant.

The dollar was trading against the Indian rupee at Rs 71.280 and the US currency was available at 4.063 in terms of the Malaysian ringgit.

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Open Bid Rs 154.60

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 154.55

Offer Rate Rs 154.57

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RUPEE IN LAHORE: The Pak rupee recovered its day earlier losses versus the greenback and the British pound in the local currency market on Friday.

Amid selling pressure, the greenback could not hold its worth throughout the trading session and ended lower for buying and selling at Rs 154.35 and Rs 154.70 against the overnight closing rate of Rs 154.50 and Rs 154.80 respectively, local currency dealers said.

Similarly, the national currency also followed the same pattern against the pound sterling which was bought and sold at Rs 201.40 and Rs 202.50 against the Thursday's closing trend of Rs 202.20 and Rs 203.00 respectively, they added.

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

The dollar opened at Rs 155.30 (buying) and Rs 155.40 (selling) against same last rate. It closed at Rs 155.30 (buying) and Rs 155.40 (selling).

The buying and selling rates of one tola of gold were Rs 90,300 (selling) and Rs 90,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020