Marginal slide was seen on the money market on Friday as the rupee slid versus the dollar in the process of pre-election season, dealers said.
INTERBANK MARKET RATES: The rupee shed three paisa versus the dollar for buying at 98.42 and the national currency also fell by one paisa for selling at 98.43, experts said.
OPEN MARKET RATES: The rupee continued fall against the dollar, shedding five paisa for buying and selling at 99.70 and 99.90, they said. The rupee, however, gained 55 paisa in relation to the euro for buying and selling at Rs 129.20 and Rs 129.45, they said.
In the final Asian trade, the dollar extended its relentless rally against the Japanese currency on Friday to break above 101 to its highest since April 2009, after signs that Japanese investors are buying more foreign assets provided yet another reason to sell yen.
The dollar last bought 101.03 yen on the EBS trading platform, after scaling to 101.20. Traders said it now faces little resistance after a swathe of stops below 100 were taken out, clearing the way for the next target of 101.45, a level not seen since October 2008.
The dollar was trading against the Indian rupee at Rs 54.56, the greenback was trading versus the Malaysian ringgit at 2.9860, the US currency was available at 6.1408 in terms of the Chinese yuan.
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Open Bid Rs 99.70
Open Offer Rs 99.90
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs 98.42
Offer Rate Rs 98.43
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RUPEE IN LAHORE: The Pak rupee showed strength as it appreciated its worth against the US dollar and pound sterling on the partially opened local currency markets on Friday.
Most of the currency dealers closed their outlets in line with the Punjab government's decision; however, a few moneychangers continued their routine business.
According to them, the dollar remained under pressure and was traded at Rs 99.80 and Rs 99.95 as its buying and selling rates against the overnight closing of Rs 99.70 and Rs 100.10, respectively.
Similarly, the local currency recovered its earlier loss and was improved against the pound sterling. The pound's buying and selling rates were slide down from Thursday closing of Rs 153.80 and Rs 154.50 to Rs 152.00 and Rs 153.05, respectively, they added.
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 for buying and Rs 99.30 for selling against same last rate. It closed on same period of Rs 99.20 for buying and Rs 99.30 for selling by the end of evening 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.
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