All-round decline was witnessed on the money market on Friday as the rupee drifted lower versus the dollar and euro in the process of trading, dealers said. The rupee inched down by two-paisa against the dollar for buying at Rs 98.86 and it shed three-paisa for selling at Rs 98.88, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee after depicting firmness versus the dollar, lost 10-paisa for buying and selling at Rs 98.80 and Rs 99.00 respectively, besides shedding the same amount in terms of the euro for buying and selling at Rs 131.75 and Rs 132.00 respectively, they said.
In the final Asian trade, the dollar slipped against the safe haven yen after news that US President Barack Obama had authorised air strikes in Iraq added to simmering geopolitical tensions and sapped risk appetite. The dollar was trading against the Indian rupee at Rs 61.65, the greenback was at 3.2140 in terms of the Malaysian ringgit and the US currency was available at 6.1570 versus the Chinese yuan.
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
RUPEE IN LAHORE: The Pak rupee appreciated its worth in relation to the greenback on the open currency markets of Lahore on Friday.
According to the currency dealers, the greenback opened at Rs 98.85 (buying) and Rs 99.15 (selling) against Rs 98.80 and Rs 99.10 of Thursday. The greenback lost its worth and was closed at Rs 98.75 and Rs 99.00 on buying and selling counters, respectively. However, some of the dealers quoted selling rate of the dollar as Rs 99.05. Likewise, the British pound depreciated its worth against the local currency. The pound was purchased and sold at Rs 165.70 and Rs 166.70 against Rs 166.10 and Rs 166.80 of Thursday.
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.