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Firmness prevailed on the money market on Friday as the rupee drifted higher against the dollar in the process of trading, dealers said.

INTER-BANK MARKET RATES: RATES: The rupee moved up in relation to the dollar, gaining 18 paisas for buying and selling at Rs 154.15 and Rs 154.20 respectively, they said.

OPEN MARKET RATES: The rupee did not show any change versus the dollar buying and selling at Rs 154.20 and Rs 154.50 respectively, they said. The rupee was trading against the euro for buying and selling at Rs 166.50 and Rs 168.00 respectively, they added.

In the final Asian market, the Japanese yen held gains against the dollar on Friday, as fresh doubts about the scale of the coronavirus outbreak supported demand for safe-haven currencies.

The Chinese yuan nursed losses as the flu-like virus, which emerged late last year in China's central Hubei province, cast a deeper shadow over the economic outlook.

The dollar was trading against the Indian rupee at Rs 71.290, the greenback was at 4.141 versus the Malaysian ringgi and the US currency was available at 6.981 in relation to the Chinese yuan.

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Open Bid Rs 154.20

Open Offer Rs 154.50

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

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Bid Rate Rs 154.15

Offer Rate Rs 154.20

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

Following slight decrease in buyers' interest in the market, the greenback could not sustain its worth throughout the trading session and ended lower for buying and selling at Rs 154.25 and Rs 154.50 against the overnight closing rate of Rs 154.30 and Rs 154.60 respectively, local currency dealers said.

Moreover, the rupee observed divergent trend as it moved both ways in relation to the pound sterling. At the close, the pound was bought and sold at Rs 199.20 and Rs 200.90 against the opening trend of Rs 199.75 and Rs 200.80 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 5 paisas against the dollar on the open currency markets of Islamabad and Rawalpindi here on Friday.

The dollar opened at Rs 154.70 (buying) and Rs 154.75 (selling) against last rate of Rs 154.75 (buying) and Rs 154.80 (selling).

It closed at Rs 154.70 (buying) and Rs 154.75 (selling).

The buying and selling rates of one tola of gold were Rs 91,100 (selling) and Rs 91,000 (buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020