The rupee managed to sustain firmness against the dollar on the money market on Friday in the process of trading, dealers said. The rupee gained three paisas against the dollar for buying and selling at Rs 104.35 and 104.37 respectively, dealer said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee retained overnight levels versus the dollar for buying and selling at Rs 104.90 and Rs 105.10 respectively, they said.
The rupee recovered 25 paisas in terms of the euro for buying and selling at Rs 116.75 and Rs 118.25 respectively, they added. In the final Asian trade, the dollar slipped against the yen and was on track for weekly losses in a week marked by continuing uncertainty about when US interest rates will rise. The dollar fell 0.4 percent to 102.12 yen, pulling away from Thursday's high of 102.60 yen. For the week it was on track for losses of 1.8 percent.
While some analysts said reports of a North Korean nuclear test could be lending support to the yen, a low-yielding funding currency that can rise on short-covering in times of market stress, others played down the impact.
North Korea announced on Friday it had conducted its fifth nuclear test, hours after seismic monitors detected a blast near the secretive country's nuclear test site. The dollar was trading against the Indian rupee at Rs 66.56, the greenback as 4.0630 in terms of the Malaysian ringgit and the US currency was at 6.6748 in relation to the Chinese yuan.
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Open Bid Rs.104.90
Open Offer Rs.105.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.104.35
Offer Rate Rs.104.37
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RUPEE IN LAHORE: The Pak rupee showed strength as it recovered its day earlier losses against the US dollar on the local currency market on Friday.
The dollar resumed trading on a negative sign and remained under pressure throughout the day mainly on account of lacking buyers' interest. At the close, the dollar ended lower at Rs 104.85 and Rs 105.20 on buying and selling sides, respectively, as against Thursday's closing of Rs 105.00 and Rs 105.60, the local currency dealers said.
Moreover, the local currency remained firm for the second consecutive day in relation to the pound sterling. The pound's buying and selling rates further declined from overnight closing of Rs 138.00 and Rs 139.00 to Rs 137.40 and Rs 138.50, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at local currency establishments of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 104.50 (buying) and Rs 105 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 104.50 (buying) and Rs 105 (selling).
Pound Sterling opened at Rs 137.50 (buying) and Rs 138 (selling). It did not observe further change in the second session and closed at Rs 137.50 (buying) and Rs 138 (selling) by the end of second session.
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