THE RUPEE: modest slide

An easier trend was witnessed on the money market on Friday as the rupee fell against the dollar in the process of trading, dealers said. The rupee lost 10 paisas versus the dollar for buying and selling at Rs 104.64 and Rs 104.65 respectively, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee followed the same pattern, losing 10 paisas in relation to the dollar for buying and selling at Rs 105.20 and Rs 105.40 respectively, they said. The rupee gained 40 paisas in terms of the euro for buying at Rs 116.60 and the local currency shed 10 paisas for selling at Rs 118.10 respectively.
In the fourth Asian trade, sterling quickly bounced back to levels around $1.2500, and after some choppy moves, it was last fetching $1.2432, still down 1.5 percent on the day. The dollar was trading against the Indian rupee at Rs 66.78, the greenback was available at 4.1500 in terms of the Malaysian ringgit and the US currency was at 6.6745 in relation to the Chinese yuan.

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Open Bid       Rs.105.20

Open Offer     Rs.105.40

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

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Bid Rate       Rs.104.64

Offer Rate     Rs.104.65

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RUPEE IN LAHORE: The Pak rupee remained weak against the US dollar on the local currency market on Friday.
According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 105.25 and Rs 105.55 as its buying and selling rate, respectively.
The dollar's demand remained intact that kept the rupee under pressure. At close, the dollar ended at Rs 105.35 and Rs 105.60 on buying and selling side, respectively.
The rupee maintained upward slide and further improved against the pound sterling that was purchased and sold at Rs 131.00 and Rs 134.20 as compared with Rs 133.70 and Rs 134.50 of Thursday, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at local currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 105 (buying) and Rs 105.10 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 105 (buying) and Rs 105.10 (selling).
Pound Sterling opened at Rs 132 (buying) and Rs 133 (selling). It did not observe further change in the second session and closed at Rs 132 (buying) and Rs 133 (selling).
Copyright Business Recorder, 2016