The rupee moved both ways versus the dollar on the local currency market on Friday in the process of trading, dealers said. The rupee picked up six-paisa in relation to the dollar for buying and selling at Rs 100.74 and Rs 100.77 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee, however, depreciated in terms of the dollar, losing 20-paisa each for buying at Rs 101.00 and for selling at Rs 101.20, they said. The rupee also fell by 25-paisa in relation to the euro for buying and selling at Rs 119.25 and Rs 119.50 respectively, they said.
In the final Asian trade, the euro wallowed near a nine-year low on Friday on growing expectations the European Central Bank will embark on quantitative easing, while the dollar held firm before US jobs data that could cement the case for a rate hike by the Federal Reserve. ECB President Mario Draghi said the bank’s Governing Council stands ready to take unconventional measures if needed to stem a prolonged period of low inflation.
The euro stood at $1.1792, having hit a nine-year low $1.1754 on Thursday as traders grew more convinced that the ECB might start buying euro zone sovereign debt as soon as this month. The dollar was available at Rs 62.41 versus the Indian rupee, the greenback was at 3.5610 in terms of the Malaysian ringgit and the US currency was trading at 6.206 per Chinese yuan.
Open Bid Rs.101.00
Open Offer Rs.101.20
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
Bid Rate Rs.100.74
Offer Rate Rs.100.77
RUPEE IN LAHORE: The Pak rupee maintained downward slide for another day and was further declined by 10-paisa in relation to the greenback on the local currency market on Friday.
According to the currency dealers, the dollar was opened on a positive note and kept on rising following fresh buying. At close, the dollar was ended higher at Rs 100.90 and Rs 101.15 as its buying and selling rate against Rs 100.80 and Rs 101.05 of Thursday, respectively, the dealers said.
On the contrary, the rupee showed strength and was appreciated against the British pound. The pound was traded at Rs 150.75 and Rs 151.00 on buying and selling counter compared with day earlier closing of Rs 151.50 and Rs 152.00, 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).