THE RUPEE: slight changes

The rupee moved cautiously versus the dollar on the money market on Friday in the process of trading, dealers said. Thank to smooth supply of dollars that assisted rupee to retain its levels in relation to the dollar for buying and selling at Rs 102.82 and Rs 102.84 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee shed 10-paisa versus the dollar for buying and selling at Rs 102.50 and Rs 102.70 respectively, however it gained Rs 1.10 in terms of the euro for buying and selling at Rs 129.00 and Rs 129.25 respectively, they said.

In the final trade, the dollar steadied against the euro and yen on Friday, though lower US yields capped its rebound after the Federal Reserve’s dovish undertones sapped the greenback’s recent strength. The euro was flat at $1.2695, but still within reach of a low of $1.2664 struck overnight after a plunge in German exports raised fears of a recession in Europe’s largest economy and reinforced a case for more action by the European Central Bank. The dollar was trading against the Indian rupee at Rs 61.17, the greenback was at 3.2480 in terms of the Malaysian ringgit and the US currency was at 6.1310 in relation to the Chinese yuan.

Open Bid       Rs 102.50
Open Offer     Rs 102.70

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

Bid Rate       Rs 102.82
Offer Rate     Rs.102.84

RUPEE IN LAHORE: The Pak rupee failed to maintain upward move and lost 10-paisa against the US dollar on the local currency market on Friday.

According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 102.25 and Rs 102.50 as its buying and selling rate, respectively. Because of fresh buying, the dollar rate was moved up and closed at Rs 102.35 and Rs 102.60 on buying and selling side, respectively, the dealers said.

Similarly, the rupee remained weak and was declined against the pound sterling. The pound’s buying and selling rate were increased form the overnight closing of Rs 164.40 and Rs 164.65 to Rs 164.50 and Rs 164.75, 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 101 (buying) and Rs 101.10 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101 (buying) and Rs 101.10 (selling) against.

Pound Sterling opened at Rs 168 (buying) and Rs 168.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 168 (buying) and Rs 168.10 (selling).

Recorder Report