The rupee managed to recover modestly against the dollar on the local currency market on Friday, dealers said. The rupee posted five-paisa against the dollar for buying and selling at Rs 101.83 and Rs 101.86, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also picked up the same amount in terms of the dollar for buying and selling at Rs 101.90 and Rs 102.10 respectively. It also posted fresh gain of Rs 1.25 versus the euro for buying and selling at Rs 114.25 and Rs 114.50, they said.
In the final Asian trade, the dollar took a breather after surging to a one-month high against a basket of currencies the previous day as US economic data and comments from Federal Reserve officials prompted investors to raise their bets on a rate increase.
The dollar index eased 0.2 percent to 95.130, inching away from a one-month high of 95.357 set on Thursday. The dollar index had rallied 1.1 percent on Thursday, bringing it close to the more than 11-year high of 95.481 hit on January 23. The euro edged up 0.1 percent to $1.1213, but remained not far from a one-month low of $1.1184 touched on Thursday. The dollar was trading against the Indian rupee at Rs 61.80, the greenback was at 3.6110 in terms of the Malaysian ringgit and the US currency was available at 6.2695 in relation to the Chinese yuan.
Open Bid Rs 101.90
Open Offer Rs 102.10
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
Bid Rate Rs 101.83
Offer Rate Rs 101.86
RUPEE IN LAHORE: The Pak rupee staged recovery and gained 30-psaisa against the US dollar on the local currency market on Friday.
According to the currency dealers, the dollar was opened on a depressed note and remained under selling pressure. At close of trading, the dollar was ended lower at Rs 101.60 and Rs 101.90 as its buying and selling rate against Rs 101.90 and Rs 102.20 of Thursday, respectively, the dealers said.
Similarly, the rupee recovered some of its earlier loss and was appreciated against the pound sterling. The pound was traded at Rs 157.00 and Rs 157.25 on buying and selling counter, compared with day earlier closing of Rs 157.25 and Rs 158.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained Re 1 against the dollar on the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 101.75 (buying) and Rs 101.85 (selling) against last rate of Rs 100.75 (buying) and Rs 100.85 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101.75 (buying) and Rs 101.85 (selling).
Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 155 (buying) and Rs 155.50 (selling).