THE RUPEE: rates slip


The rupee drifted lower against the dollar on the local currency market on Friday in the process of trading, dealers said. The rupee lost 11-paisa in relation to the dollar for buying and selling at Rs 101.93 and Rs 101.95 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee stayed up in terms of the dollar for buying and selling at Rs 102.60 and Rs 102.80 respectively however, it picked up 40-paisa versus the euro for buying and selling at Rs 116.25 and Rs 116.50 respectively, they added.

In the final Asian the dollar struggled at three month lows versus the euro but encouraging news on the US labour market helped it recover some ground against a host of other currencies. Data on Thursday showed the number of Americans filing new claims for unemployment benefits fell last week towards a 15-year low.

The greenback was trading against the Indian rupee at Rs 63.59, the dollar was at 3.5710 in terms of the Malaysian ringgit and the US currency was at 6.204 versus the Chinese yuan.

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Open Bid       Rs.102.60
Open Offer     Rs.102.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.

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Bid Rate       Rs.101.93
Offer Rate     Rs.101.95
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RUPEE IN LAHORE: The rupee marginally improved and gained five-paisa against the dollar on the local currency market on Friday.

The dollar resumed trading at its overnight closing of Rs 102.70 and Rs 102.95 as its buying and selling rate. In the absence of buying support, the dollar declined to Rs 102.65 and Rs 102.90 on buying and selling side. The rupee recovered some of its earlier loss and appreciated against the British pound whose buying and selling rate reduced from the Thursday closing of Rs. 160.50 and Rs 160.75 to Rs 160.40 and Rs 160.65.

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).

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