THE RUPEE: slight fluctuations

Very little changes were seen on the currency market on Friday in the process of trading, dealers said. The rupee inched up by one paisa against the dollar for buying at Rs 98.20, it, however, shed two paisa for selling at Rs 98.25, they added.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee sustained its levels versus the dollar for buying and selling at Rs 99.00 and Rs 99.25, they said. The rupee picked up 25 paisa in relation to the euro for buying and selling at Rs 128.00 and Rs 128.25, they added.
In the final Asian trade, the euro was knocked lower and the safe-haven yen strengthened on news that Russia had refused to provide financial assistance to Cyprus, which is struggling to find a solution for its debt crisis. The euro was down 0.1 percent versus the yen at 122.28 yen, after having fallen to as low as 121.88 yen earlier. The dollar was trading against the Indian rupee at Rs 54.33, the US currency was available at 3.114 in relation to the Malaysian ringgit and the greenback was at 6.2127 in terms of the Chinese yuan.

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Open Bid       Rs 99.00

Open Offer     Rs 99.25

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.

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Bid Rate       Rs 98.20

Offer Rate     Rs 98.25

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RUPEE IN LAHORE: The Pak rupee-dollar parity remained unchanged amid sluggish trading trend on the local currency market on Friday.
According to the currency dealers, there was no change in the dollar's demand and supply situation that helped rupee stability. The dollar was traded at its overnight closing of Rs 99.20 and Rs 99.35 as its buying and selling, respectively.
On the contrary, the rupee maintained downward slide for another day and was depreciated against the pound sterling. The pound's buying and selling rates were improved from Thursday closing of Rs 149.70 and Rs 150.30 to Rs 150.00 and Rs 150.45, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed a recovery of 60 paisa against dollar on the open currency markets of Islamabad and Rawalpindi on Friday.
The dollar opened at Rs 99.20 for buying and Rs 99.30 for selling against last rate of Rs 99.80 for buying and Rs 99.90 for selling. It closed on same period of Rs 99.20 for buying and Rs 99.30 for selling by the end of second session.
Pound Sterling opened at Rs 154 for buying and Rs 155 for selling against same last rate. It closed at the same rate without further change in the evening session.
Copyright Business Recorder, 2013