The rupee improved with slight gains against the dollar on the money market on Friday in the process of trading, dealers said. The rupee managed to halt erosion in its value versus the dollar, recovering 10 paisas for buying and selling at Rs 108.10 and Rs 108.30 respectively, however it shed 20 paisas in terms of the euro for buying and selling at Rs 112.80 and Rs 114.30 respectively, they said.
OPEN MARKET RATES: INTER-BANK MARKET RATES: The rupee also picked up five paisas in relation to the dollar for buying and selling at Rs 104.60 and Rs 104.63 respectively, they said. In the final Asian trade, the euro jumped to its highest in three weeks in holiday-thinned Asian trade, but was on track for a losing year on expectations that US President-elect Donald Trump's policies will boost inflation and prompt the US Federal Reserve to hike interest rates at a faster pace.
The euro was last up 0.8 percent at $1.0570 after briefly spiking to $1.0700, its highest since December 8. On the last trading day of 2016, it was down 2.6 percent against the dollar for the year. The euro also soared against the Japanese currency. It was up 0.6 percent at 122.98 yen after touching 123.87, its highest since December 15, but remained on track to shed 5.8 percent for the year. The dollar was trading against the Indian rupee at Rs 67.97, the greenback was at 4.4845 in terms of the Malaysian ringgit and the US currency was at 6.9496 against the Chinese yuan.
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Open Bid Rs.108.10
Open Offer Rs.108.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.104.60
Offer Rate Rs.104.63
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RUPEE IN LAHORE: The Pakistani rupee depreciated by 20-paisa on buying side while it recovered by 10-paisa on selling side against the US dollar in the local currency market here on Friday.
The trading activity of the US dollar resumed on its overnight closing of Rs 108.00 and Rs 108.50 as its buying and selling rates, respectively. Due to the short supply, the dollar ended higher at Rs 108.20 on buying counter.
But in the absence of selling spree, it could not sustain and slipped its worth to Rs 108.40 on selling counter, respectively, said the local currency dealers.
The local currency showed strength as it recovered its earlier losses versus the pound sterling. The pound's buying and selling rates decreased from Thursday's closing rates of Rs 131.35 and Rs 132.50 to Rs 131.30 and Rs 132.30, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar showed an improvement of Rs 1 against rupee at currency exchange shops of Islamabad and Rawalpindi here on Friday. The dollar resumed trading at Rs 108 (buying) and Rs 108.50 (selling) against last rate of Rs 107 (buying) and Rs 107.50 (selling). It did not observe further change in evening session and closed at Rs 108 (buying) and Rs 108.50 (selling). Pound Sterling opened at Rs 135 (buying) and Rs 135.10 (selling) against same last week's rate. It did not observe further change in the second session and closed at Rs 135 (buying) and Rs 135.10 (selling).
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