The dollar drifted lower against the rupee on the money market on Friday in the process of trading, dealers said. The rupee extended its slide versus the dollar for buying at Rs 98.43 and it also fell by two paisa for selling at Rs 98.45, they added.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee depicted firmness in relation to the dollar for buying and selling at Rs 98.85 and Rs 99.10, they said. The rupee, for the second in a row, did not move any side against the euro for buying and selling at Rs 126.00 and Rs 126.25, they added.
In the final Asian trade, the euro hovered near a four-month lows on worries that losses suffered by Cypriot depositors may unnerve investors in other euro zone debt and on Italian political woes, but market participants also said the single currency seems to have found a bottom for now.
Trade was, however, subdued with many markets closed for Easter holidays, and there was limited reaction to North Korea putting its missile units on standby to attack US military bases in South Korea and the Pacific.
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Open Bid Rs 98.85
Open Offer Rs 99.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs 98.43
Offer Rate Rs 98.45
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RUPEE IN LAHORE: The national currency stayed unchanged on buying side at Rs 98.80 while it was appreciated on selling side by 15-paisa at Rs 99.05 on the local currency markets on Friday.
According to the currency dealers, the dollar commenced trading at its overnight closing of Rs 98.80 and Rs 99.20 as its buying and selling side, respectively. On close of trading, the dollar was traded at Rs 98.80 and Rs 99.05 on buying and selling counters, respectively, the dealers said.
However, the rupee maintained downward slide and was further depreciated against the pound sterling. The British pound was purchased and sold at Rs 149.20 and Rs 149.45 as compared to Thursday closing of Rs 148.50 and Rs 149.30, respectively, the dealers said.
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 the 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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