The rupee moved cautiously against the dollar on the money market on Friday in the process of trading activity, dealers said.
INTER-BANK MARKET RATES: RATES: The rupee recovered five paisas versus the dollar for buying and selling at Rs 158.50 and Rs 158.60 respectively, they said.
OPEN MARKET RATES: The rupee, however, lost 50 paisas in terms of the greenback for buying at Rs 158.00, while it held the overnight level for selling at Rs 158.50, they said. The rupee lost 50 paisas against the euro for buying at Rs 168.50 and it also lost Rs 1.50 for selling Rs 172.50, they said.
In the final Asian trade, the dollar was headed for its biggest weekly gain since the 2008 crisis on Friday, as the coronavirus pandemic drives a dash for cash that is stretching the world's financial plumbing.
Even the US Federal Reserve's extension of discount dollar funding - already available to six of the world's biggest central banks - to nine more overnight showed only the most tentative signs of satisfying demand for greenbacks.
In volatile trade in Asia on Friday the British pound fell to a fresh 35-year low of $1.1414. The Aussie and kiwi oscillated in a 1.5 cent range - eventually turning positive.
The dollar rose 0.5% against the yen to a month-high of 111.30 yen. Already thin liquidity was reduced further by a Japanese public holiday, exacerbating sharp moves.
The dollar was available versus the Indian rupee at Rs 74.978, the greenback was at 4.377 in terms of the Malaysian ringgit and the US currency was trading against the Chinese yuan at 7.071.
Open Bid Rs 158.00
Open Offer Rs 158.50
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
Bid Rate Rs 158.50
Offer Rate Rs 158.60
RUPEE IN LAHORE: The Pak rupee depreciated its worth in process of trading against the American dollar in the open currency market on Friday.
According to currency dealers, the short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 157.70 and Rs 158.30 against the overnight closing trend of Rs 156.50 and Rs 158.00 respectively.
Furthermore, the local currency gained 50 paisas against the pound sterling for buying and ended at Rs 180.00 against the opening rate of Rs 180.50 whereas it lost Rs 3.5 for selling and ended at Rs 187.00 as compared to the Thursday's closing rate of Rs 183.50, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 50 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 159.50 (buying) and Rs 159.60 (selling) against last rate of Rs 159 (buying) and Rs 159.10 (selling).
It closed at Rs 159.50 (buying) and Rs 159.60 (selling).
The buying and selling rates of one tola of gold were Rs. 89,700 and Rs 89,500(buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.