THE RUPEE: light changes

The rupee moved with little changes against the dollar on the money market on Friday in the process of trading, dealer said. The rupee shed three paisas in relation to the dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, dealer said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee was almost unmoved versus the dollar for buying Rs 105.40 while it gained five paisas for selling at Rs 105.60, they said. The rupee was unchanged versus the euro for buying and selling at Rs 117.30 and Rs 118.30, they added.
In the final Asian trade, the dollar stayed in consolidation mode after its rally to two-month highs ran out of steam with bulls looking for fresh guidance from the head of the US central bank. The dollar index last stood at 95.158, having been as low as 94.938 overnight, retreating from a peak of 95.661 set on Wednesday. The euro was back near $1.1200, pulling away from a two-month trough of $1.1129. The dollar was trading against the Indian rupee at Rs 67.17, the greenback was at 4.0740 versus the Malaysian ringgit and the US currency was at 6.5534 in terms of the Chinese yuan.

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Open Bid       Rs.105.40

Open Offer     Rs.105.60

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

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Bid Rate       Rs.104.84

Offer Rate     Rs.104.85

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RUPEE IN LAHORE: The Pak rupee remained strong as it appreciated its worth in relation to the US dollar on the local currency market on Friday.
The dollar resumed trading at its overnight closing rates of Rs 105.55 and Rs 105.90 on buying and selling sides, respectively. The dollar could not sustain and lost its worth to Rs 105.50 and Rs 105.85 on buying and selling counter, the local currency dealers said.
However, the local currency registered gain on buying side while it stayed unchanged on selling side against the pound sterling that was bought and sold at Rs 153.90 and Rs154.90, respectively, as compared with the day earlier closing rate of Rs 154.10 and Rs 154.90, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 10 paisas against the dollar at local currency establishments of Islamabad and Rawalpindi here on Friday.
The dollar resumed trading at Rs 105.50 (buying) and Rs 106 (selling) against last rate of 105.60 (buying) and Rs 106.10 (selling). It did not observe further change in the last trading hours and closed at Rs 105.50 (buying) and Rs 106 (selling). Pound Sterling opened at Rs 151.60 (buying) and Rs 152 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 151.60 (buying) and Rs 152 (selling).
Copyright Business Recorder, 2016