THE RUPEE: firm trend

Steadier trend was seen on the money market on Friday as the rupee managed to hold its present level in the process of trading, dealers said. The rupee almost sustained its overnight levels against the dollar for buying and selling at Rs 104.00 and Rs 104.02 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee did not move to any side versus the dollar for buying and selling at Rs 104.50 and Rs 104.75 respectively, they said. The rupee picked up 25-paisa in relation to the dollar for buying and selling at Rs 117.00 and Rs 118.00 respectively, they said.

In the final Asian trade, the dollar held near one-week highs against a basket of major currencies early on Friday, having benefited from upbeat US data and as investors continued to cut back on safe-havens such as the yen. Commodity currencies including the Australian dollar managed to outperform their US peer after a solid rebound in Chinese equities helped lift risk appetite generally.

The euro came close to $1.1200, having been knocked off its lofty perch above $1.1700 and last stood at $1.1258. The dollar was trading against the Indian rupee at Rs 66.05, the greenback was at 4.2020 versus the Malaysian rinttit and the US currency was at 6.393 in terms of the Chinese yuan.

Open Bid       Rs 104.50
Open Offer     Rs 104.75

Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.

Bid Rate       Rs 104.00
Offer Rate     Rs.104.02

RUPEE IN LAHORE: The rupee continued rising trend for the third consecutive day and gained 20-paisa on the buying side and 30-paisa on selling against the dollar on the local currency market on Friday.

Currency dealers said the dollar resumed trading on a depressed note and kept falling in the absence of buyers’ interest and at close of trading ended further lower at Rs 104.50 and Rs 104.80 as its buying and selling rate against Rs 104.60 and Rs 105.10 of Thursday, respectively, the dealer said.

The rupee registered considerable gain against the British pound that remained under pressure throughout the day. The pound was traded at Rs 159.80 and Rs 160.50 on the buying and selling counter compared with the day earlier closing of Rs 163.10 and Rs 163.45, the dealers added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee on the open currency markets of Islamabad and Rawalpindi here on Friday.

The dollar opened at Rs 104 (buying) and Rs 104.25 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 104 (buying) and Rs 104.25 (selling).

Pound Sterling opened at Rs 161 (buying) and Rs 161.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 161 (buying) and Rs 161.50 (selling).

Recorder Report