The rupee moved both ways against the dollar on the money market on Friday in the process of trading, dealers said. The rupee after staying unchanged against the dollar for a long-time, reacted positively, gaining four-paisa for buying at Rs 104.90 and it picked up three-paisa for selling at Rs 104.92, they said.
INTER-BANK MARKET RATES: In the final Asian trade, the yen stayed on the defensive as the market waited to see if the Bank of Japan would ease policy, while the dollar languished at two-week lows in the face of disappointing US economic data. New orders for long-lasting US manufactured goods in December recorded their biggest drop in 16 months as lower oil prices and a strong dollar pressured factories.
The report was the latest indication that economic growth braked sharply at the end of 2015, a trend that could put the Federal Reserve's tightening cycle on ice. The dollar was trading against the Indian rupee at Rs 67.88, the greenback was at 4.1200 in terms of the Malaysian ringgit and the US currency was at 6.5760 versus the Chinese yuan.
OPEN MARKET RATES: The rupee fell by 20-paisa in terms of the dollar for buying at Rs 106.40 and the national currency dropped by 15-paisa for selling at Rs 106.65, however it gained 10-paisa in relation to the euro for buying and selling at Rs 116.30 and Rs 117.30, they added.
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Open Bid Rs.106.40
Open Offer Rs.106.65
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.104.90
Offer Rate Rs.104.92
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RUPEE IN LAHORE: The rupee did keep falling for another day and lost 10-paisa against the American on Friday.
The dollar did begin trading well as it did go up following fresh demand and finally ended higher at Rs 106.70 and Rs 106.95 as its buying and selling against Rs 106.60 and Rs 106.85 of Thursday.
The rupee also did remain under pressure against the pound sterling that was traded at Rs 153.00 and Rs 154.00 on buying and selling as compared with the previous closing of Rs 152.20 and Rs 153.20.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar further gained strength against the Pak rupee on the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).
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