All-round gains were seen on the local currency market on Friday as healthier trend in the foreign exchange reserves boost the rupee to recover its gains versus dollar, exports said. On the interbank market the rupee was sharply higher versus the greenback, rising 25 paisa for buying at 84.65 and by 24 paisa for selling at 84.70, they said.
In the final Asian session yen slipped as Asian shares climbed and China reaffirmed its easy monetary stance, leading short-term players to buy higher-yielding currencies. The dollar rose against yen and was supported versus other major currencies as investors grew cautious about selling the greenback too far on the view that some may previously have been too pessimistic ahead of US payroll numbers due later in the day. The dollar's move up against the Japanese currency was helped by a report that the Bank of Japan was weighing further easing measures, traders said.
OPEN MARKET RATES: The rupee posted fresh gain of 10 paisa in relation to the dollar for buying and selling a at 84.80 and 85.00, dealers said. The rupee managed to recover 95 paisa versus the euro for buying and selling at Rs 114.40 and Rs 114.90, they added.
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Buying Rs 84.65
Selling Rs 84.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Open Buying Rs 84.80
Open Selling Rs 85.00
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RUPEE IN LAHORE: The rupee showed mixed trend at Lahore currency market on Friday as it lost 10 paisa on buying side and gained 10 paisa on selling side against dollar.
According to dealers, the dollar closed at Rs 85.00 and Rs 85.30 against Thursday's Rs 84.90 and Rs 85.40 on buying and selling sides, respectively.
The rupee appreciated against pound sterling. The pound was purchased and sold at Rs 127.50 and Rs 128.80 as compared to overnight Rs 128.20 and Rs 129.50, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee was up by 60 paisa against dollar at the currency markets of Islamabad and Rawalpindi here on Friday. The dollar opened at Rs 84.40 (buying) and Rs 84.50 (selling) against last rates of Rs 85 (buying) and Rs 85.10 (selling). It did not observe further change in the evening session and closed at Rs 84.40 (buying) and Rs 84.50 (selling).
Pound Sterling opened at Rs 125.50 (buying) and Rs 126.50 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 125.50 (buying) and Rs 126.50 (selling).
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