The rupee failed to retain its present firmness against the dollar on the money market on Friday, dealers said. Commenting on the direction, some experts in the market said that rupee showed sharp fluctuations versus the dollar during the day due to strong demand.
INTERBANK MARKET RATES: The rupee lost 27-paisa in relation to the dollar for buying at Rs 101.00 and 30-paisa for selling and Rs 101.05, they said.
OPEN MARKET RATES: The rupee followed the same pattern in terms of the dollar, losing 25-paisa for buying and selling at Rs 101.60 and Rs 101.80, they said. The rupee lost Rs 4.00 versus the euro for buying and selling at Rs 114.00 and Rs 114.25, they said.
In the final Asian trade, the euro set a fresh 11-year low versus the dollar on Friday, staying under pressure after the European Central Bank launched a landmark bond-buying programme to support the sagging euro zone economy.
The euro touched a low of around $1.1315 on trading platform EBS, its lowest level since September 2003. The euro last traded at $1.1343, down 0.2 percent on the day. The dollar was trading against the Indian rupee at Rs 61.46, the greenback was at 3.6040 in terms of the Malaysian ringgit and the US currency was at 6.2261 in relation to the Chinese yuan.
Open Bid Rs 101.60
Open Offer Rs 101.80
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
Bid Rate Rs 101.00
Offer Rate Rs 101.05
RUPEE IN LAHORE: The Pak rupee remained weak and registered a marginal decline of five-paisa 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 101.45 and Rs 101.70 as its buying and selling rate, respectively. Because of slight increase in dollar’s demand, its rate was moved up and ended at Rs 101.50 and Rs 101.75 on buying and selling counter, respectively, the dealers said.
On the contrary, the rupee staged recovery and appreciated its worth against the British pound. The pound’s buying and selling rates were decreased from Thursday closing of Rs 153.55 and Rs 153.80 to Rs 152.00 and Rs 152.25, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained strength against the dollar on the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 100.75 (buying) and Rs 101 (selling) against last rate of Rs 101 (buying) and Rs 101.25 (selling). It did not observe further change in the second session and closed at Rs 100.75 (buying) and Rs 101 (selling).
Pound Sterling opened at Rs 152 (buying) and Rs 153 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 152 (buying) and Rs 153 (selling).