The rupee held the overnight levels against the dollar on the local currency market on Friday, dealers said.
INTERBANK MARKET RATES: The rupee did not move any side in relation to the dollar for buying and selling at Rs 102.05 and Rs 102.10 respectively, they said.
OPEN MARKET RATES: The rupee was also unchanged versus the dollar for buying and selling at Rs 102.40 and Rs 102.60 respectively. On the contrary it shed further 25-paisa versus the euro for buying and selling at Rs 109.50 and Rs 109.75, they said.
In the final Asian trade, the dollar edged lower but remained well above this week’s lows plumbed after the Federal Reserve’s dovish stance on interest rates sent the greenback tumbling.
The dollar’s plunge on Wednesday after the Fed cut its inflation outlook and its growth forecast did not alter the long-term view that divergent monetary policy expectations will bolster the US currency in the months ahead.
The dollar was trading against the Indian rupee at Rs 62.52, the US currency was at 3.7125 versus the Malaysian ringgit and greenback was at 6.1893 in relation to the Chinese yuan.
Open Bid Rs 102.40
Open Offer Rs 102.60
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
Bid Rate Rs 102.05
Offer Rate Rs 102.10
RUPEE IN LAHORE: The rupee continued its downward move for another day losing five-paisa against the greenback on the local currency market on Friday.
Currency dealers said the dollar resumed trading at its overnight closing of Rs 102.65 and Rs 102.90 as its buying and selling rate, respectively. As a result of marginal improvement in the dollar’s demand, its rate increased to Rs 102.70 and Rs 102.95 on buying and selling side, respectively.
The rupee remained weak and depreciated its worth against the pound sterling. The pound’s buying and selling rate improved from the Thursday closing of Rs 151.00 and Rs 151.25 to Rs 151.10 and Rs 151.35, respectively, the dealers said.
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 101.75 (buying) and Rs 101.85 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 101.75 (buying) and Rs 101.85 (selling).
Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 155 (buying) and Rs 155.50 (selling).