A divergent trend was seen as the rupee played both sides against the dollar on the money market on Friday in the process of trading, dealers said. The rupee gained five-paisa in terms of the dollar for buying and selling at Rs 101.70 and Rs 101.72 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee shed 10-paisa in relation to the dollar for buying and selling at Rs 102.20 and Rs 102.40 respectively, but it rose versus the euro, picking up 25-paisa for buying and selling at Rs 108.00 and Rs 108.25 respectively, they said.
In the final Asian trade, the US dollar nursed modest losses after investors booked profits in an extended rally that has driven the greenback to successive multi-year peaks this week. An unexpected fall in US retail sales gave the market an excuse to sell the dollar, which promptly retreated from a 12-year high against a basket of major currencies. The dollar was trading against the Indian rupee at Rs 62.66, the US currency was at 3.6905 in terms of the Malaysian ringgit and the greenback was at 6.2594 versus the Chinese yuan.
Open Bid Rs.102.20
Open Offer Rs.102.40
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
Bid Rate Rs.101.70
Offer Rate Rs.101.72
RUPEE IN LAHORE: The Rupee recovered some of its earlier loss and gained five-paisa against the US dollar on the local currency market on Friday.
Currency dealers said the dollar resumed trading at its overnight closing of Rs 101.15 and Rs 101.40 as its buying and selling rate, respectively. Because of diminishing demand, the dollar could not sustain and ended lower at Rs 101.10 and Rs 101.35 on buying and selling side, respectively.
However, the national currency remained weak and depreciated on buying side while it stayed unchanged on selling side in relation to the British Pound. The pound was traded at Rs. 153.00 and Rs 153.50 on buying and selling counter compared with the Thursday closing of Rs 153.25 and Rs 153.50, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged 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 same last 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).