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The rupee managed to recover modestly against the dollar on the money market on Friday in the process of trading activity, dealers said.

INTER-BANK MARKET RATES: RATES: The rupee shrugged of overnight weakness versus the dollar, picking up 10 paisas for buying and selling at Rs 154.38 and Rs 154.42 respectively, they said.

OPEN MARKET RATES: The rupee did not move any side in relation to the dollar for buying and selling at Rs 154.30 and Rs 154.60 respectively, while it gained modestly in terms of the euro for buying and selling at Rs 168.40 and Rs 170.00 respectively, they said.

In the fourth Asian trade, the dollar traded near a two-week high versus the yen on Friday on upbeat US economy indicators ahead of key jobs data, but the spread of a new coronavirus in China remains a risk to financial markets.

The yuan held onto slim gains versus the dollar in offshore trade on hopes Chinese stimulus would lessen the economic impact of the epidemic, but the rising death toll has kept investors on edge.

Sterling traded near a six-week low against the greenback and nursed losses versus the euro, dogged by persistent worries about negotiations between Britain and the European Union for a post-Brexit trade deal.

Recent improvement in US economic data has given some traders respite from concerns about the new virus, but these concerns are likely to loom large for weeks as investors asses the scale of the economic impact.

The dollar was trading against the Indian rupee at Rs 71.240, the greenback was at 4.133 in terms of the Malaysian ringgit and the US currency was available at 6.981 versus the Chinese yuan.

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Open Bid Rs 154.30

Open Offer Rs 154.60

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

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Bid Rate Rs 154.38

Offer Rate Rs 154.42

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RUPEE IN LAHORE: The Pak rupee stayed unchanged on buying side while it marginally declined its worth on selling side in relation to the US dollar in the open currency market on Friday.

According to currency dealers, the dollar did not witness change throughout the trading session for buying at Rs 154.10 whereas it gained five paisas for selling and ended at Rs 154.45 against the opening rate of Rs 154.40.

Furthermore, the rupee maintained upward trend for the second consecutive day against the pound sterling. Consequently, the pound's buying and selling rates further slid from the Thursday's closing of Rs 199.00 and Rs 200.70 to Rs 198.50 and Rs 200.00 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 154.60(buying) and Rs 154.70(selling) against same last rate.

It closed at Rs 154.60(buying) and Rs 154.70(selling).

The buying and selling rates of one tola of gold were Rs 91,500 (selling) and Rs 91,200(buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020