THE RUPEE: firm trend

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-File Photo


-File Photo

No major changes were seen in the value of the rupee on the money market on Friday in the process of trading, dealers said. The rupee did not move any side against the dollar for buying and selling at Rs 105.80 and Rs 106.00, they said. The rupee, however, lost 75 paisas in terms of the euro for buying at Rs 117.75 and it also fell sharply for selling Rs 119.25, they said.

OPEN MARKET RATES: INTER-BANK MARKET RATES: The rupee was unchanged in relation to the dollar for buying and selling at Rs 104.85 and Rs 04.86, they said.

In the final Asian trade, the dollar traded above six-month lows against a basket of six major peers having gained some reprieve as solid US economic data helped temper a sell-off triggered by political tumult in Washington. The safe haven Swiss franc and Japanese yen pulled back from the week’s highs as risk aversion eased somewhat, with US equities edging higher on Thursday helped by strong economic data.

New applications for US jobless benefits unexpectedly fell last week and the number of Americans on unemployment benefits tumbled to a 28-1/2-year low. The Philadelphia Fed said its index for current manufacturing activity in the mid-Atlantic region jumped to 38.8 in May from 22.0 in April. The dollar last traded at 97.814 against the index of six major peers, having climbing from Wednesday’s trough at 97.333, its lowest level since November 9.

The dollar index is down more than 1.4 percent so far this week, putting it on track for its biggest weekly slide since July 2016. The dollar was trading against the Indian rupee at Rs 64.820, the greenback was at 4.320 in terms of the Malaysian ringgit and the US currency was at 6.893 versus the Chinese yuan.


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Open Bid       Rs 104.85

Open Offer     Rs 104.86

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

 


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Bid Rate       Rs 105.80

Offer Rate     Rs 106.00

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RUPEE IN LAHORE: The Pak rupee depreciated on buying side while it stayed unchanged on selling side against the major currencies including the US dollar and the British pound in the local currency market on Friday.

The dollar commenced trading on its overnight closing trend of Rs 105.90 and Rs 106.20 as its buying and selling rates, respectively. At the close, it appreciated by 10-paisa on buying counter and ended at Rs 106.00. However, no change in its value took place on selling counter as it sustained its opening rate of Rs 106.20, said local currency dealers.

Likewise, the local currency also followed the same suit versus the pound sterling. The British currency was bought and sold at Rs 137.10 and Rs 138.00 against Rs 136.75 and Rs 138.00 of Thursday, they added.

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

The dollar opened at Rs 106.05 (buying) and Rs 106.15 (selling) against last rate of Rs 105.95 (buying) and Rs 106.05 (selling). It closed at Rs 106.05 (buying) and Rs 106.15 (selling).

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