THE RUPEE: easier trend

An easier trend persisted on the money market on Friday as the rupee drifter lower marginally against the dollar in the process of trading, dealers said. The rupee shed one-paisa against the dollar for buying at Rs 105.50 and it also fell by two-paisa for selling at Rs 105.52 respectively, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee slid by five-paisa in terms of the dollar for buying and selling at Rs 105.65 and Rs 105.85 respectively, they said.
While, the rupee did not move any side versus the euro for buying and selling at Rs 114.80 and Rs 115.80 respectively, they added. In the final Asian session, the dollar held firm with investors on tenterhooks to see whether upcoming US job data will be strong enough to cement rising expectations of a Federal Reserve interest rate hike next month. The dollar index on Thursday rose to a three-month high of 98.135, edging near its August peak of 98.334. It last stood at 97.963. The dollar was trading against the Indian rupee at Rs 65.78, the greenback was at 4.2990 in terms of the Malaysian ringgit and the US currency was at 6.350 in relation to the Chinese yuan.

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Open Bid       Rs.105.65

Open Offer     Rs.105.85

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

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Bid Rate       Rs.105.50

Offer Rate     Rs.105.52

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RUPEE IN LAHORE: The Pak rupee maintained downward slide for the third consecutive day and lost 25-paisa against the US dollar on the local currency market on Friday.
According to the currency dealers, the dollar commenced trading on a healthy note and kept on rising following fresh buying. At close of trading, the dollar ended further higher at Rs 105.75 and Rs 106.10 as its buying and selling rate against Rs 105.50 and Rs 105.85 of Thursday, respectively.
On the contrary, the rupee stayed recovery and registered gain against the pound sterling. The pound's buying and selling rate declined from the overnight closing of Rs 162.00 and Rs 162.70 to Rs 161.00 and Rs 161.50, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Friday. The dollar opened at Rs 104 (buying) and Rs 104.25 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 104 (buying) and Rs 104.25 (selling). Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).
Copyright Business Recorder, 2015