The rupee appreciated against the dollar on the money market on Friday in the process of trading, dealers said. The rupee did not move any side in terms of the dollar for buying and selling at Rs 104.84 and Rs 104.85 respectively, they said.
INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee improved with 10 paisas further gains against the dollar for buying and selling at Rs 105.60 and Rs 105.80 respectively, they said. The rupee, however, dropped by 30 paisas in relation to the euro for buying and selling at Rs 115.30 and Rs 116.80 respectively, they said.
In the final Asian trade, the Canadian dollar set a 14-month low and the Australian dollar hit a four-month trough as oil prices slid on Friday, while the safe haven yen edged higher as risk sentiment wavered. The Canadian dollar slipped to C$1.3790 per U.S. dollar at one point, its weakest level since late February 2016. The loonie was last down 0.3 percent at C$1.3786.
The Australian dollar slid to $0.7372 at one point, its lowest level since January 11, last trading at $0.7381, down 0.4 percent on the day. Commodity-linked currencies took their cues from a slide in oil prices, said Stephen Innes, a senior trader for FX broker OANDA in Singapore. I think that's really driving it. It's just a direct correlation with oil prices and a little bit of risk aversion coming into the dollar/yen," Innes said. US West Texas Intermediate (WTI) crude oil futures slid 3 percent on the day. The dollar fell 0.3 percent against the yen to 112.19, pulling away from a seven-week high of 113.045 yen set on Thursday.
The euro touched a six-month high of $1.0990 at one point, supported by expectations that centrist Emmanuel Macron will win the final round of France's presidential election on Sunday. The euro last traded at $1.0985, little changed on the day but up 0.8 percent for the week. The dollar was trading against the Indian rupee at Rs 64.310, the greenback was at 4.335 in terms of the Malaysian ringgit and the US currency was at 6.895 versus the Chinese yuan.
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Open Bid Rs.105.60
Open Offer Rs.105.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Bid Rate Rs.104.84
Offer Rate Rs.104.85
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RUPEE IN LAHORE: The Pakistani rupee remained strong for the second consecutive day against the American dollar in the local currency market on Friday.
According to currency dealers, the US dollar resumed trading on a negative note and kept on declining amidst lack of buyers' interest in the market. At close of trading, it further slid to Rs 105.60 and Rs 105.80 on buying and selling sides, respectively, as compared to the overnight closing rates of Rs 105.75 and Rs 105.95 respectively, they added.
On the contrary, the local currency failed to sustain as it registered reduction versus the pound sterling. The pound's buying and selling rates rose from Thursday's closing trend of Rs 135.40 and Rs 136.10 to Rs 135.80 and Rs 136.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee was unchanged against the dollar at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 105.90 (buying) and Rs 106 (selling) against last rate of Rs 106 (buying) and Rs 106.10 (selling). It closed at Rs 105.90 (buying) and Rs 106 (selling).
Pound Sterling opened at Rs 135 (buying) and Rs 135.50 (selling). It closed at the same rate.
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