Little movements were seen in the rupee-dollar parity on the money market on Friday, mainly because of easy supply of the greenback, dealers said. The rupee shed one paisa against the dollar for buying at Rs 98.26, while it showed no variation for selling at Rs 98.28, dealers said.
INTERBANK MARKET RATES: As was expected, the State Bank of Pakistan (SBP) said it was leaving its key policy rate unchanged at 9.5 percent that might help in controlling the inflation rate, money experts said.
OPEN MARKET RATES: The rupee drifted lower against the dollar, falling five paisa for buying and selling at Rs 98.75 and Rs 98.95, respectively. The rupee, however, gained 20 paisa in terms of the single European currency for buying and selling at Rs 128.50 and Rs 128.75, they said.
In the final Asian trade, the dollar edged lower versus the yen but stayed within striking distance of 100 yen, with the Bank of Japan's radical monetary stimulus seen likely to keep the yen under pressure. The greenback has gained roughly 7 percent from about 92.90 yen since the BOJ pledged last week to inject about $1.4 trillion into the Japanese economy in less than two years to achieve its target of two percent inflation. The dollar was trading against the Indian rupee at Rs 54.51, versus the Malaysian ringgit, the greenback was at 3.0350 and the greenback was at 6.191 against the Chinese yuan.
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Open Bid Rs 98.75
Open Offer Rs 98.95
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs 98.26
Offer Rate Rs 98.28
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RUPEE IN LAHORE: The dollar-rupee parity remained unchanged on the local open currency market on Friday.
The dollar resumed trading against the rupee at Rs 99.00 and Rs 99.25 for buying and selling, respectively. In the face of lacklustre conditions at the local kerb, the greenback was closed at Rs 99.00 and Rs 99.25 on buying and selling counters, respectively. However, some of the dealers quoted selling rate of the dollar as Rs 99.20.
On the other hand, the local currency recovered its earlier loss against the British pound which was purchased and sold at Rs 150.00 and Rs 150.75 as against Rs 150.50 and Rs 151.25 of Thursday.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 99.20 (buying) and Rs 99.30 (selling) against same last rate. It closed on same period of Rs 99.20 (buying) and Rs 99.30 (selling) by the end of evening session.
Pound Sterling opened at Rs 154 (buying) and Rs 155 (selling) against same last rate. It closed at the same rate without further change in the evening session.
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