On the back of easy supply of dollars, the rupee managed to recover modestly against the dollar, the national currency also sustained its rise in terms of the euro for the second day on the currency market on Friday, dealers said.
Persistent flows of dollars' supported the rupee to look ahead, in the meantime, if importers indulge in fresh buying the US currency to meet payments, the rupee may not be able to retain its present levels in the coming days, money experts said. This was frequent supply of dollar, which helped the rupee.
INTERBANK MARKET RATES: The rupee picked up 10-paisa in relation the dollar for buying at 95.33 and it also gained nine-paisa for selling at 95.36, they said.
OPEN MARKET RATES: The rupee sustained its overnight levels against the dollar for buying and selling at 95.30 and 95.50, they said. While, the rupee managed to recover 50-paisa against the euro for buying at Rs 123.50 and Rs 124.50, they added.
In the final Asian trade, the euro hovered below its one-month high against the dollar having been left unmoved by the European summit, while the yen wobbled near a two-month low against the dollar as speculation mounted over the possibility that the Bank of Japan will take fresh stimulus measures.
European leaders, meeting on Thursday in Brussels, made some progress towards establishing a single banking supervisor for the currency bloc, but, as expected, talked little about immediate plans for debt-ridden problem members, Spain and Greece. The dollar was trading against the Indian rupee at Rs 53.75, the greenback was at 3.0470 in terms of the Malaysian ringgit and the dollar was at 6.2487 in relation to the Chinese yuan.
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Open Buying Rs 95.30
Open Selling Rs.95.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.95.33
Offer Rate Rs.95.36
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RUPEE IN LAHORE: The dollar-rupee parity remained unchanged in the local kerb on Friday. The dollar witnessed no change in its demand and supply situation that helped the local currency stability and was traded at its day earlier closing of Rs 95.35 and Rs 95.60 on buying and selling counters, respectively. However, the rupee remained strong against the British pound that remained under pressure during the day. Pound was ended lower at Rs 152.10 and Rs 152.80 on buying and selling sides as compared to last day closing of Rs 152.70 and Rs 153.30, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Friday.
The dollar opened at Rs 95 (buying) and Rs 95.60 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 95 (buying) and Rs 95.60 (selling). Pound Sterling opened at Rs 151.90 (buying) and Rs 153 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 151.90 (buying) and Rs 153 (selling). The buying and selling rates of Euro remained Rs 122.40 and Rs 123.60respectively in both morning and evening sessions.
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