Firmness prevailed on the money market on Friday as the rupee improved modestly against the dollar in the process of trading, dealers said. The rupee gained two-paisa in relation to the dollar for buying and selling at Rs 98.76 and Rs 98.78 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also gained 20-paisa in relation to the dollar for buying and selling at Rs 99.10 and Rs 99.30 respectively, they said. The rupee followed the same pattern in terms of the euro, picking up 10-paisa for buying and selling at Rs 134.00 and Rs 134.25 respectively, they said.
In the final Asian trade, the dollar was poised to end the week with a whimper, dropping to a more than one-month low against the yen on Friday after downbeat US spending data gave investors no reason to hope for higher US rates anytime soon. The New Zealand dollar, meanwhile, hovered at its highest in nearly three years as investors sought out higher-yielding currencies. The dollar was trading against the Indian rupee at Rs 60.13, the greenback was available at 3.2070 in terms of the Malaysian ringgit and the US currency was at 6.2214 versus the Chinese yuan.
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
RUPEE IN LAHORE: The rupee showed strength against the major currencies on the local currency market on Friday.
According to the currency dealers, the dollar was opened on a depressed note and kept on sliding due to selling pressure. At close, the dollar was ended lower at Rs 99.05 and Rs 99.30 as its buying and selling rate against Rs 99.60 and Rs 99.85 of Thursday, respectively, the dealers said.
The rupee also remained strong and was improved against the pound sterling. The pound’s buying and selling rate was slide down from overnight closing of Rs 168.60 and Rs 168.85 to Rs 167.75 and Rs 168.00, respectively, they 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.