The rupee improved 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 managed to gain five paisas versus the dollar for buying and selling at Rs 154.18 and Rs 154.20 respectively, they said.
OPEN MARKET RATES: The rupee after maintaining a stable for some time, reacted positively in terms of the dollar, picking up 10 paisas for buying and selling at Rs 154.00 and Rs 154.30 respectively, they said. The rupee was unchanged in terms of the euro for buying and selling at Rs 165.75 and Rs 167.25 respectively, they said.
In the final Asian trade, the yen was set for its worst week in two-and-a-half years on Friday, as fears over the creeping spread of the coronavirus epidemic drove funds out of Asia and looking for safety in the US dollar, gold and bonds.
Though it barely budged on Friday, the yen has lost 2% against the dollar in the previous two days, due to weak Japanese economic data and coronavirus worries.
China reported an uptick in infections from a virus that has already killed more than 2,200 people there and paralysed its economy.
South Korea reported 52 new cases, lifting its national total by a third to 156. Japan has reported new deaths and, along with Singapore, stands on the brink of recession. The Australian dollar traded at an 11-year low of $0.6603 and the kiwi at a four-month low of $0.6310.
The dollar was trading against the Malaysian ringgit at 4.193 and the greenback was at 7.033 versus the Chinese yuan.
Open Bid Rs 154.00
Open Offer Rs 154.30
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
Bid Rate Rs 154.18
Offer Rate Rs 154.20
RUPEE IN LAHORE: The Pak rupee witnessed divergent trend against the greenback and the British pound in process of trading in the local currency market on Friday.
Following fluctuating demand and supply situation in the market, the greenback observed volatile trend as it moved both ways throughout the trading session and ended for buying and selling at Rs 154.00 and Rs 154.60 against the Thursday's closing rate of Rs 154.05 and Rs 154.35 respectively, local currency dealers said.
Besides, the national currency also followed the suit in relation to the pound sterling that was bought and sold at Rs 198.30 and Rs 199.30 against the overnight closing trend of Rs 197.40 and Rs 199.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 10 paisas against the rupee 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 last rate of Rs 154.50 (buying) and Rs 154.60 (selling).
It closed at Rs 154.60 (buying) and Rs 154.70 (selling).
The buying and selling rates of one tola of gold were Rs 91,150 (selling) and Rs 91,000(buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.