THE RUPEE: firm trend

WEB DESK: Firm trend was witnessed on the money market as the rupee held overnight levels in terms of the dollar on Friday in the process of trading, dealers said.

The rupee managed to keep overnight levels versus the dollar at Rs 105.49 and Rs 105.50 respectively, they said.

INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also did not show any change against the dollar for buying and selling at Rs 106.00 and Rs 106.30 respectively, but it gained 20-paisa versus the euro for buying and selling at Rs 113.50 and Rs 114.50 respectively, they said.

In the final Asian trade, most emerging Asian currencies rose on Friday and were set to have weekly gains as the US dollar retreated on expectations the Federal Reserve may raise interest rates only gradually in 2016 after a hike in December. China’s yuan edged up on suspected intervention after the central bank set its daily midpoint firmer. The dollar was trading against the Indian rupee at Rs 66.10, the US currency at 4.2600 in terms of the Malaysian ringgit and the greenback was at 6.3816 versus the Chinese yuan.

Open Bid       Rs 106.00
Open Offer     Rs 106.30

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

Bid Rate       Rs 105.49
Offer Rate     Rs 105.50

RUPEE IN LAHORE: The under-pressure rupee lost its worth against major currencies, including the dollar and the British pound, on Friday.

With the dollar gaining because of buyers’ interest, at close the rupee lost five paisas for buying and selling at Rs 106.75 and Rs 107.05 respectively against Rs 106.70 and Rs 107.00 respectively.

The rupee too went down against the pound sterling whose buying and selling rate improved from the overnight closing of Rs 161.80 and Rs 162.20 respectively to Rs 161.90 and Rs 162.50 respectively.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar further gained strength against the Pak rupee on the open currency markets of Islamabad and Rawalpindi here on Friday.

The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against overnight value of Rs 105 (buying) and Rs 105.20 (selling). It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (selling).

Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).

Recorder Report