THE RUPEE: firm trend

Firmness prevailed on the money market on Friday as the national currency managed to recover some solid grounds in relation to the dollar, dealers said. The rupee gained 12 paisa versus the dollar for buying and selling at 98.52 and Rs 98.54, dealers said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee firmly held the overnight levels against the dollar for buying and selling at Rs 99.15 and Rs 99.35, dealers said. The rupee recovered 25 in terms of the euro for buying and selling at Rs 135.25 and Rs 135.50, they said.

In the final Asian trade, the euro was back in familiar territory against the dollar, having staged a rebound from a 2-1/2-month trough as investors booked profits on bearish positions ahead of the weekend.

The common currency rose 0.1 percent to $1.3718. It had fallen as far as $1.3648 on Thursday, its lowest level since late February, in response to data showing the euro zone grew much less than expected at the start of the year. The dollar was trading against the Indian rupee at Rs 58.70, the greenback was at 3.2305 versus the Malaysian ringgit and the US currency was available at 6.2316 in relation to the Chinese yuan.

Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.

RUPEE IN LAHORE: The Pak rupee remained weak as it was marginally declined by five-paisa on buying side at Rs 99.25 but it stayed unchanged on selling side at Rs 99.50 in relation to the greenback on the local currency market on Friday.

According to the currency dealers, the dollar resumed trading at its overnight closing of Rs 99.20 and Rs 99.50 as its buying and selling rates, respectively. The dollar’s opening rate continued to prevail almost throughout the day. However, before close of trading, the dollar’s buying rate was slightly improved to Rs 99.25 while its selling rate remained unchanged at Rs 99.50, the dealers said.

However, the national currency showed mixed trend against the British pound. The pound was traded at Rs 166.25 and Rs 166.50 on buying and selling counter against Rs 165.80 and Rs 166.80 of Thursday, respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at 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.

Recorder Report