THE RUPEE: all-round gains

The rupee managed to extend its overnight gains against the dollar on the local currency market on Friday, dealers said. The rupee recovered more 17-paisa in terms of the dollar for buying and selling at 102.30 and Rs 102.35 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee also picked up 40-paisa versus the dollar for buying and selling at Rs 102.00 and Rs 102.20 respectively, they said. The rupee showed steep gains against the euro, picking up Rs 2 for buying and selling at Rs 126.00 and Rs 126.25, they said.
In the final session, the dollar held near a four-year high against a basket of major currencies, with its near-term fortunes hinging on whether US jobs data will add to or temper optimism about the US economy's outlook. The dollar has been flying high, buoyed by the view that the US Federal Reserve is on course to raise rates next year on the back of a steadily recovering US economy. The dollar was trading against the Indian rupee at Rs 61.54. The greenback was at 3.3450 in terms of the Malaysian ringgit and the US currency was available at 6.1158 versus the Chinese yuan.

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Open Bid       Rs 102.00

Open Offer     Rs 102.20

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

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Bid Rate       Rs 102.30

Offer Rate     Rs 102.35

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RUPEE IN LAHORE: The national showed strength and was appreciated its worth against the major currencies including US dollar and British pound 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 throughout the day. At close of trading, the dollar was ended lower at Rs 102.25 and Rs 102.50 as its buying and selling rate against Rs 102.85 and Rs 103.10 of Thursday, respectively, the dealers said.
Similarly, the rupee maintained upward move and registered gain against the pound sterling that was traded at Rs 162.25 and Rs 164.25 on buying and selling counter compared with day earlier closing of Rs 164.50 and Rs 164.75, 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 103 (buying) and Rs 103.10 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 103 (buying) and Rs 103.10 (selling).
Pound Sterling opened at Rs 164 (buying) and Rs 164.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 164 (buying) and Rs 164.10 (selling).
Copyright Business Recorder, 2014