The dollar remained under pressure versus the rupee due to heavy selling by investors, dealers said on Friday. Within last couple of sessions, the rupee recovered Rs 2 approximately in relation to the dollar and it may gain further as market receives nearly one billion dollars stuck-up export proceeds in days to come, said chairman of Forex Association of Pakistan (FAP) Malik Bostan.
OPEN MARKET RATES: The rupee maintained surge versus the dollar, rising by 60-paisa for buying at Rs 102.90 and it also gained 50-paisa for selling at Rs 103.20, however it lost 90-paisa in relation to the euro for buying and selling at Rs 142.10 and Rs 142.35, they said.
INTERBANK MARKET RATES: The rupee extended gains against the dollar, picking up 30 paisa for buying at Rs 103.20 and it also rose by 35 paisa for selling at Rs 103.25, they said.
In the final Asian trade, the euro held steady near a two-month high against the dollar on Friday, pausing in the wake of a European Central Bank inspired rally, as trade turned cautious ahead of US jobs data. The euro last stood at $1.3858, within a stone's throw of a two-month peak of $1.3873 hit on Thursday after the ECB decided to stand pat on policy and held off from fresh monetary stimulus.
The dollar was trading against the Indian rupee at Rs 61.02, the US currency was trading at 3.2600 in terms of the Malaysian ringgit and the greenback was at 6.114 in relation to the Chinese yuan.
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Open Bid Rs 102.90
Open Offer Rs 103.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs 103.20
Offer Rate Rs 103.25
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RUPEE IN LAHORE: The Pak rupee maintained upward trend against the foreign currencies at the open currency markets of Lahore on Friday.
The dollar resumed trading at Rs 103.50 for buying and Rs 104.00 for selling against same overnight rates. In the wake of lacklustre condition in the local kerb, the greenback depreciated its worth in relation to the local currency and closed at Rs 103.20 and Rs 103.45 on buying and selling counters, respectively.
Likewise, the British pound lost its worth against the Pak rupee. Pound Sterling was purchased and sold at Rs 172.00 and Rs 172.25 as against Rs 172.50 and Rs 173.00 on Thursday.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 30 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 105.70 (buying) and Rs 105.80 (selling) against last week's rate of Rs 106 (buying) and Rs 106.25 (selling). It did not observe further change in the second session and closed at Rs 105.70 (buying) and Rs 105.80 (selling).
Pound Sterling opened at Rs 174.90 (buying) and Rs 175 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.
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