A downward trend was seen on the money market on Friday as the rupee drifted lower against the dollar and euro, dealers said. The rupee fell by two-paisa in relation to the dollar for buying and selling at Rs 98.74 and Rs 98.76 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also shed five-paisa versus the dollar for buying and selling at Rs 98.85 and Rs 99.05 respectively. It followed same pattern, losing 10 paisa against the euro for buying and selling at Rs 132.50 and Rs 132.75, they said.
In the final Asian trade, the dollar held gains versus the yen and the euro stood steady after rebounding from an eight-month low against the greenback as data painted a brighter picture of the US and euro-zone economies.
The dollar was little changed at 101.76 yen after gaining more than 0.3 percent overnight to a two-week high of 101.86 after weekly US filings for first-time jobless benefits fell to the lowest level since early 2006. The dollar was trading against the Indian rupee at Rs 60.14, the greenback was at 3.1785 versus the Malaysian ringgit and the US currency was available at 6.1966 in terms of the Chinese yuan.
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
RUPEE IN LAHORE: The Pak rupee failed to maintain upward slide, as it remained under pressure and lost 35-paisa against the US dollar on the local currency market on Friday.
According to the currency dealers, the dollar was opened on healthy note and registered handsome gain following fresh buying. The dollar’s rate was improved from the overnight closing of Rs 98.60 and Rs 98.85 to Rs 98.95 and Rs 99.20 on buying and selling side, respectively, the dealers said.
However, the rupee-pound parity remained unchanged amid low trading activity. The pound was purchased and sold at its Thursday closing of Rs 167.50 and Rs 167.75, 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 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.