Bearish trend prevailed on the money market on Friday as the rupee is near to close with the barrier of 97 mark against the dollar on the interbank market in process of high demand for the US currency, they added.
INTERBANK MARKET RATES: The rupee lost 12 paisa against the dollar for buying at 96.72 and it also fell by nine paisa for selling at 96.74, they said.
OPEN MARKET RATES: The track on the open market suited with the interbank market, as the rupee shed five paisa versus the dollar for buying and selling at 97.25 and 97.45, they said. The rupee, however, gained one rupee against the euro for buying and selling at Rs 125.20 and Rs 126.20, they said.
In the final Asian trade, the euro languished at one-week lows against the greenback, having suffered a major setback after the European Central Bank painted a bleak outlook for the euro zone and discussed cutting interest rates. The single currency fell nearly one percent to $1.2950, posting its biggest one-day loss in a month and retreating from a seven-week peak of $1.3127 set mid-week. The dollar was trading against the Indian rupee at Rs 54.14, the greenback was at 3.0520 versus the Malaysian rigggit and the US currency was at 6.230 in relation to the Chinese yuan.
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Open Buying Rs 97.25
Open Selling Rs 97.45
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs 96.72
Offer Rate Rs 96.74
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RUPEE IN LAHORE: The dollar-rupee parity remained unchanged in the open currency markets of Lahore on Friday.
According to currency dealers, the dollar opened at Rs 97.35 (buying) and Rs 97.60 (selling) against Thursday's closing rates of Rs 97.30 and Rs 97.55. At the end of trading, the dollar was closed at Rs 97.30 and Rs 97.55 on buying and selling counters, respectively.
On the other hand, the British pound appreciated its worth against the local currency. Pound Sterling was purchased and sold at Rs 154.90 and Rs 155.50 as against Rs 154.80 and Rs 155.50 of Thursday, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee remained unchanged against dollar at the currency exchange establishments of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 96.90 (buying) and Rs 97 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 96.90 (buying) and Rs 97 (selling).
Pound Sterling opened at Rs 153 (buying) and Rs 153.50 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 153 (buying) and Rs 153.50 (selling).
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