The rupee managed to recover modestly against the dollar on the local currency market on Friday, dealers said. Some experts said that expectations for 518 million dollars of the International Monetary Fund (IMF) tranche eased dollar buying pressure slightly, which may help the rupee to gain further ground in terms of the US currency.
INTERBANK MARKET RATES: The rupee picked up seven-paisa versus the dollar for buying at Rs 101.13 and it also rose by 10-paisa for selling at Rs 101.15, they said.
OPEN MARKET RATES: The rupee held the last levels in terms of the dollar for buying and selling at Rs 101.50 and Rs 101.70 respectively, they said. The rupee extended losses versus the euro, shedding 20-paisa for buying and selling at Rs 116.00 and Rs 116.25 respectively, they said.
In the final Asian trade, the euro eased versus the dollar on Friday, with the near-term focus on whether US jobs data later in the day will bolster the case for the Federal Reserve to consider raising interest rates around mid-year. The euro eased 0.1 percent to $1.1469, after having surged 1.2 percent the previous day in a short covering rally.
The euro’s rise on Thursday was helped by reports that the European Central Bank had agreed to allow Greece’s national central bank to grant its banks emergency funding of up to 60 billion euros. The dollar was trading against the Indian rupee at Rs 61.73, the greenback was at 3.5465 in terms of the Malaysian ringgit and the US currency was at 6.241 in relation to the Chinese yuan.
Open Bid Rs 101.50
Open Offer Rs 101.70
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
Bid Rate Rs 101.13
Offer Rate Rs 101.15
RUPEE IN LAHORE: The Pak rupee-dollar parity stayed unchanged amid low trading activity on the local currency market on Friday.
According to the currency dealers, the dollar did not observe and change in its demand and supply situation that helped rupee stability. The dollar was traded at its Wednesday closing of Rs 101.60 and Rs 101.85 on buying and selling side, respectively, the dealers said.
Similarly, the national currency also remained unchanged against the pound sterling. The pound was purchased and sold at its previous closing of Rs 153.50 and Rs 153.75, 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).