Weak trend was seen on the currency market on Friday as the rupee fell modestly versus the dollar in process of trading, dealers said. RATES: The rupee managed to hold last levels against the dollar for buying and selling at Rs 154.89 and Rs 154.91, they said.

Overnight the pound slipped below $1.30 for the first time in a fortnight. It was last quoted at $1.3022 as worries grow about whether a deal can be secured before the December 2020 hard deadline.

Cable has given up all the gains won after Prime Minister Boris Johnson was re-elected last week and has slumped 2.3% against the dollar since Monday. It has fared even worse against the euro, headed for its largest weekly loss since July 2017.

The dollar was trading against the Indian rupee at Rs 71.160, the greenback was available versus the Malaysian ringgit at 4.140 and the US currency was at 7.009 in terms of the Chinese yuan.

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Open Bid       Rs 154.50
Open Offer     Rs 154.90
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Bid Rate       Rs 154.89
Offer Rate     Rs 154.91
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Following fluctuating demand and supply situation in the market, the greenback observed volatile trend throughout the trading session and ended for buying and selling at Rs 154.60 and Rs 154.95 against the previous closing rate of Rs 154.40 and Rs 155.00 respectively, local currency dealers said.

Furthermore, the rupee showed strength as it recovered its day earlier losses versus the pound sterling. Consequently, the pound's buying and selling rates slid from the Thursday's closing of Rs 201.50 and Rs 203.50 to Rs 200.50 and Rs 201.80 respectively, they added.

The dollar opened at Rs 154.90 (buying) and Rs 155 (selling) against last rate of Rs 155 (buying) and Rs 155.10 (selling).

It closed at Rs 154.90 (buying) and Rs 155 (selling).

The buying and selling rates of one tola of gold were Rs 84,400 (selling) and Rs 84,200 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.