Firmness prevailed on the local currency market on Friday as the rupee improved slightly versus the dollar, dealers said The rupee showed further rise in its value in terms of the dollar, gaining 15-paisa for buying and selling at Rs 102.90 and Rs 102.93 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee inched up, rising three-paisa in relation to the dollar for buying Rs 102.80 while it did not show any change for selling at Rs 103.00, they said. The rupee also picked up five-paisa against the euro for buying and selling at Rs 129.25 and Rs 129.50 respectively, they said.
In the final Asian trade, the yen tumbled to its lowest level in almost seven years against the dollar, as the Bank of Japan wrong-footed markets by unexpectedly easing policy further in the face of mounting evidence it would miss its inflation goal.
The dollar surged more than 1 percent to a high of 110.67 yen, its best level since January 2008 after the BOJ said it would raise its monetary base target to an annual increase of 80 trillion yen($724.5 billion), from 60-70 trillion yen.
The dollar was trading against the Indian rupee at Rs 61.40, the greenback was at 3.2890 in terms of the Malaysian ringgit and the US currency was available at 6.1098 versus the Chinese yuan.
Open Bid Rs.102.80
Open Offer Rs.103.00
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
Bid Rate Rs.102.90
Offer Rate Rs.102.93
RUPEE IN LAHORE: The Pak rupee maintained upward slide for another day and was further improved by 15-paisa against the US dollar on the local currency market on Friday.
According to the currency dealers, the dollar commenced trading at depressed sign and could not sustain due to selling pressure. At close of trading, the dollar was ended lower at Rs 102.90 and Rs 103.15 on buying and selling side against Rs 103.05 and Rs 103.30 of Thursday, respectively, the dealers said.
Similarly, the rupee continued rising trend and was appreciated against the pound sterling. The pound was traded at Rs 164.00 and Rs 164.25 on buying and selling counter, compared with day earlier closing of Rs 164.75 and Rs 165.00, 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 103 (buying) and Rs 103.10 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 103 (buying) and Rs 103.10 (selling). Pound Sterling opened at Rs 164 (buying) and Rs 164.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 164 (buying) and Rs 164.10 (selling).