THE RUPEE: sharp gains

The rupee managed to gain sharply against the dollar on the currency market on Friday, dealers said. The rupee rose by 60-paisa against the dollar for buying and selling at Rs 101.75 and Rs 101.80 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also picked up 10-paisa in relation to the dollar for buying and selling at Rs 101.60 and Rs 101.80. It also appreciated by 75-paisa against the euro for buying and selling at Rs 133.00 and Rs 133.25, they said.
In the final Asian trade, the safe-haven yen held firm on Friday, while the euro was on track to post its second straight month of declines as tensions between Ukraine and Russia flared again. The dollar was trading against the Indian rupee at Rs 60.50, the greenback was at 3.1560 in terms of Malaysian ringgit and the US currency was at 6.1439 versus the Chinese yuan.

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Open Bid       Rs 101.60

Open Offer     Rs.101.80

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

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Bid Rate       Rs.101.75

Offer Rate     Rs.101.80

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RUPEE IN LAHORE: The Pak rupee regained some of its earlier loss and was improved by 40-paisa against the US dollar on the local currency market on Friday.
According to the currency dealers, the dollar was opened on a depressed note and remained under selling pressure. At close of trading, the dollar was ended lower at Rs 101.60 and Rs 101.85 as its buying and selling rates against Rs 102.00 and Rs 102.25 of Thursday, respectively, the dealers said.
Similarly, the national currency also remained strong and was appreciated against the British pound. The pound's buying and selling rates were declined from overnight closing of Rs 168.00 and Rs 168.25 to Rs 167.75 and Rs 168.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Friday. The dollar opened at Rs 102.00 (buying) and Rs 102.10 (selling) against last rate. It did not observe further change in the second session and closed at Rs 102.00 (buying) and Rs 102.10 (selling). Pound Sterling opened at Rs 168 (buying) and Rs 168.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 168 (buying) and Rs 168.10 (selling).
Copyright Business Recorder, 2014