THE RUPEE: Dollar at 106 on open market

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-File Photo


The rupee touched an important barrier of 106 in relation to the dollar on Friday in the process of trading, dealers said. The rupee also shed four paisas versus the dollar for buying and selling at Rs 104.82 and Rs 104.83 respectively, they said.

INTERBANK MARKET RATES: In the final Asian trade, the dollar traded below an eight-week high against the yen, with the near-term focus on whether coming US economic data would provide the catalyst for further gains in the greenback.

The dollar eased 0.1 percent to 113.70 yen, having retreated from its eight-week high of 114.38 yen on May 10. However, the greenback has still risen 0.8 percent this week and has gained more than 4 percent in the three weeks since the first round of the France’s presidential elections, with the yen having slipped on reduced risk aversion among investors.

The dollar has been surprisingly well-supported against the yen and the market seems to have a very optimistic view,” said Masafumi Yamamoto, chief currency strategist for Mizuho Securities in Tokyo. The dollar was available against the Indian rupee at Rs 64.305, the greenback was trading versus the Malaysian ringgit at 4.346 and the US currency was at 6.901 in terms of the Chinese yuan.

OPEN MARKET RATES: The rupee lost 10 paisas against the dollar for buying and selling at Rs 105.80 and Rs 106.00 respectively, they said. The rupee followed the same track versus the euro, losing equal amount to Rs 114.70 and Rs 116.20 respectively, they said.


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Open Bid       Rs.105.80

Open Offer     Rs.106.00

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

 


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Bid Rate       Rs.104.82

Offer Rate     Rs.104.83

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RUPEE IN LAHORE: The rupee-dollar parity stayed unchanged amid sluggish trend in the local currency market on Friday.

According to the currency dealers, the demand and supply situation of the US dollar remained intact that kept the local currency stabilise. Consequently, it sustained its opening rates of Rs 105.80 and Rs 106.00 on buying and selling sides, the dealers added.

Furthermore, the local currency witnessed mixed patterns as it moved both ways versus the pound sterling. The British currency was bought and sold at Rs 135.40 and Rs 136.50 against Rs 135.60 and Rs 136.00 of Thursday, they said.

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

The dollar opened at Rs 105.90 (buying) and Rs 106 (selling). It closed at the same. Pound Sterling opened at Rs 135 (buying) and Rs 135.50 (selling). It closed at the same rate.-Business Recorder

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