The rupee fluctuated marginally against the dollar. In the meantime, it drifted lower versus the euro on the money market on Friday in the process of trading, dealers said. Commenting on the stability of the rupee in terms of dollar, analysts said that visible increase in the country’s foreign exchange reserves to 13.132 billion dollar helped improve dollars’ supply, which caused firmness in the rupee value.
INTERBANK MARKET RATES: The rupee inched up by one paisa versus the dollar for buying at Rs 98.84, while it shed four paisa for selling at Rs 98.86, they said.
OPEN MARKET RATES: The rupee was down by five paisa in relation to the dollar for buying at Rs 99.70 while it did not move any side for selling at Rs 99.85, dealers said. The rupee lost 50 in terms of the euro for buying and selling at Rs 136.50 and Rs 136.75, they said.
In the final Asian trade, the dollar steadied near one-week highs against the yen and advanced on the euro after promising US housing and factory activity data nudged US Treasury yields away from recent lows. The dollar index, which tracks the greenback against a basket of rivals, edged up to 80.264. The dollar was trading against the Indian rupee at Rs 58.45, the greenback was at 3.2100 in terms of the Malaysian ringgit and the US currency was available at 6.236 versus the Chinese yuan.
======================== Open Bid Rs.99.70 Open Offer Rs.99.85 ========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
======================== Bid Rate Rs.98.84 Offer Rate Rs.98.86 ========================
RUPEE IN LAHORE: The Pak rupee dollar parity remained unchanged amid low trading activity on the local currency market on Friday.
According to the currency dealers, the dollar resumed trading at its overnight closing of Rs 99.70 and Rs 99.95 as its buying and selling, respectively. The dollar did not observe any change in its demand and supply situation during the day’s trading. The dollar’s opening rate continued to prevail till close of trading, the dealers said.
However, the rupee maintained downward trend for another day and was declined against the British pound. The pound was traded at Rs 168.00 and Rs 168.25 on buying and selling counters, compared with Thursday closing of Rs 167.75 and Rs 168.00, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 98.50 (buying) and Rs 98.60 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 98.50 (buying) and Rs 98.60 (selling).
Pound Sterling opened at Rs 165 (buying) and Rs 165.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.