The rupee drifted lower against the dollar on the money market on Friday in the process of trading, dealers said. The rupee lost 10-paisa in terms of the dollar for buying at Rs 98.05 and it also shed three-paisa for selling at Rs 98.08, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: For the second day, the rupee managed to hold overnight levels in relation to the dollar for buying and selling at Rs 99.90 and Rs 100.10 respectively, they said. The national currency also did not move any side versus the euro for buying and selling at Rs 138.00 and Rs 138.50 respectively, they said.
In the final Asian trade, the euro struggled near a three-week low against the dollar, weighed by recent dovish talk from several European Central Bank (ECB) officials.
Buoyed by monetary tightening expectations, the New Zealand dollar continued its bull run, hitting a 2-1/2-year high against the greenback and a six-year peak versus the yen. The dollar was trading against the Indian rupee at Rs 60.08, the greenback was at 3.2745 in relation to the Malaysian ringgit and the US currency was at 6.2122 versus the Chinese yuan.
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
RUPEE IN LAHORE: The national currency failed to maintain rising trend and depreciated its worth against the major currencies including US dollar and British pound on the local currency market on Friday.
According to the currency dealers, the dollar was opened on a healthy note and registered fresh gain following increasing demand. At close, the dollar was ended higher at Rs 100.50 and Rs 101.30 as its buying and selling rate against Rs 100.00 and Rs 100.25 of Thursday, respectively.
Similarly, the rupee continued downward move for another day and was declined against the pound sterling. The pound was purchased and sold at Rs 167.00 and Rs 167.80 compared with day earlier closing of Rs 167.00 and Rs 167.25, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Friday. The dollar opened at Rs 100 for buying and Rs 100.10 for selling against same last rate. It did not observe further change in the second session and closed at Rs 100 for buying and Rs 100.10 for selling. Pound Sterling opened at Rs 165 for buying and Rs 165.50 for selling against same last rate. It closed at the same rate without further change by the end of evening session.