A marginal fall in the value of the rupee was seen on the interbank market on Friday in the process of trading, dealers said. The rupee dropped by four-paisa against the dollar for buying and selling at Rs 98.74 and Rs 98.76 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: While the rupee was remained firm for the second day versus the dollar for buying and selling at Rs 98.90 and Rs 99.10, they said. The rupee managed to recover 25-paisa in terms of the euro for buying and selling at Rs 134.25 and Rs 134.50, they said.
In the final Asian trade, the yen was poised to end the week higher, having jumped to a five-month peak against the euro overnight as banking woes in Portugal drove global equities lower and lifted demand for the safe-haven currency.
Fears over financial troubles at the family-owned holding companies behind Portugal’s largest listed bank had unsettled European markets on Thursday. The dollar was at Rs 60.18 against the Indian rupee, the greenback was at 3.1850 versus the Malaysian ringgit and the US currency was at 6.2082 against the Chinese yuan.
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
RUPEE IN LAHORE: The Pak rupee staged recovery and improved its worth by 20-paisa in relation to the greenback on the local currency market on Friday.
According to the currency dealers, the dollar was opened on a depressed note and remained under pressure during the entire day’s trading. At close, the dollar was ended lower at Rs 99.05 and Rs 99.30 as its buying and selling rates, against Rs 99.25 and Rs 99.50 of Thursday respectively, the dealers said.
Likewise, the rupee showed strength and was appreciated against the pound sterling. The pound’s buying and selling rates were declined from overnight closing of Rs 169.25 and Rs 169.50 to Rs 169.00 and Rs 169.25, 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.