Firmness prevailed on the money market on Friday as the rupee managed to hold steadier trend due to easy supply of dollars, dealers said. The rupee picked up five-paisa versus the dollar for buying at Rs 100.60 and it also rose by three-paisa for selling and Rs 100.65, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee was unchanged in relation to the dollar for buying and selling at Rs 101.20 and Rs 101.40 respectively. It also maintained overnight levels against the euro for buying and selling at Rs 125.75 and Rs 126.00 respectively, they said.
In the final Asian trade, the dollar stayed firm against most of its major peers thanks in part to upbeat US retail sales data, while nervousness over falling oil prices kept the Canadian dollar pinned near a five-year low.
Crude oil slid below $59 a barrel for the first time in 5-1/2 years, extending a sharp decline that prompted a surprise interest rate cut from the Norwegian central bank on Thursday. The dollar was trading against the Indian rupee at Rs 62.49, the greenback was available at 3.4940 in terms of the Malaysian ringgit and the US currency was at 6.1931 versus the Chinese yuan.
Open Bid Rs.101.20
Open Offer Rs.101.40
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
Bid Rate Rs.100.60
Offer Rate Rs.100.65
RUPEE IN LAHORE: The Pak rupee improved against the US dollar on the local currency market on Friday.
According to the currency dealers, the dollar commenced trading at its day earlier closing of Rs 101.35 and Rs 101.60 as its buying and selling rate, respectively.
In the absence of buyers’ interest, the dollar could not sustain and was declined to Rs 101.30 and Rs 101.55 on buying and selling side, respectively, the dealers said. However, the Pak rupee-pound sterling parity remained unchanged amid dull trading activity. The pound was traded at its Thursday closing of Rs 158.50 and Rs 158.75 on buying and selling counter, respectively, they added.
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 101.30 (buying) and Rs 101.40 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101.30 (buying) and Rs 101.40 (selling). Pound Sterling opened at Rs 158 (buying) and Rs 159 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 159 (selling).