The rupee failed to sustain rising trend against the dollar on the money market on Friday in process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee depreciated by 18 paisas versus the dollar for buying and selling at Rs 158.43 and Rs 158.47, they said.
OPEN MARKET RATES: The rupee fell sharply in relation to the dollar, dropping 90 paisas for buying and selling Rs 158.30 and Rs 159.30, dealers said. The rupee also depreciated against the euro for buying and selling at Rs 175.50 and Rs 177.50, they said.
In the final Asian trade, the yen traded near an eight month high versus the dollar on Friday as renewed concerns about the US-China trade dispute and signs that central banks are more worried about the global economy boosted safe-haven assets.
The yen, which tends to be bought in times of economic uncertainty, was on course for its second weekly gain versus the greenback and its third weekly gain versus both the Australian and New Zealand dollars.
The dollar was little changed at 105.98 yen, on course for its second weekly decline. On Wednesday, the dollar slumped to 105.50 yen, the lowest since the January flash crash. A break of this level suggests a move to 105.00 yen, analysts said.
The dollar index, which measures the greenback versus a basket of six major currencies, was little changed at 97.548 but on course for its biggest weekly decline since June 21.
The dollar was trading against the Indian rupee at Rs 70.515, the greenback was at 4.186 in terms of the Malaysian ringgit and the US currency was available at 7.050 versus the Chinese yuan.
========================
Open Bid Rs.158.30
Open Offer Rs.159.30
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
========================
Bid Rate Rs.158.43
Offer Rate Rs.158.47
========================
RUPEE IN LAHORE: The Pak rupee depreciated its worth in process of trading versus the American dollar in the local currency market on Friday.
According to currency dealers, the short supply phenomenon of the US dollar prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 158.60 and Rs 159.35 against the overnight closing trend of Rs 158.10 and Rs 159.30 respectively.
In addition, the rupee lost 15 paisas against the pound sterling for buying at Rs 190.35 against the opening rate of Rs 190.20 whereas it stayed unchanged for selling at Rs 191.50, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained Re 1 against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 159.60 (buying) and Rs 159.70 (selling) against last rate of Rs 158.60 (buying) and Rs 158.70 (selling).
It closed at Rs 159.60 (buying) and Rs 159.70 (selling).
The buying and selling rates of one tola of gold remained as Rs 84,200 (selling) and Rs 83,900 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
Comments
Comments are closed.