Firmness prevailed on the money market on Friday as the rupee managed to hold its present levels against the dollar in the process of trading, dealers said.
INTER-BANK MARKET RATES: The rupee gained four paisas in terms of the dollar for buying and selling at Rs 105.40 and Rs 105.42 respectively, they said.
OPEN MARKET RATES: The rupee was firm in relation to the dollar for buying and selling at Rs 107.20 and Rs 107.40 respectively, they said. The rupee was trading versus the euro for buying and selling at Rs 124.60 and Rs 125.85 respectively, they said.
In the final Asian trade, the dollar licked its wounds on Friday, on track for weekly losses after it dropped on disappointment with a tax bill put forth by US Senate Republicans that would delay expected corporate tax cuts.
The dollar index, which gauges the greenback against a basket of six major rivals, inched up 0.1 percent to 94.493 after skidding 0.36 percent in the previous session. It was down 0.5 percent for the week.
The dollar was available against the Indian rupee at Rs 65.053, the greenback was at 4.192 in terms of the Malaysian ringgit and the US currency was 6.637 in relation to the Chinese yuan.
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Open Bid Rs 105.40
Open Offer Rs 105.42
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs 107.20
Offer Rate Rs 107.40
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RUPEE IN LAHORE: The Pak rupee depreciated on buying side while it stayed unchanged on selling side in relation to the greenback in the local currency market on Friday.
According to currency dealers, the greenback resumed trading on its overnight closing trend of Rs 107.10 and Rs 107.45 as its buying and selling rates, respectively. At close of trading, it climbed up by 10 paisas for buying and ended at Rs 107.20. However, it firmly held its opening trend for selling at Rs 107.45, they added.
In addition, the national currency failed to hold its strength as it registered reduction versus the pound sterling. The pound's buying and selling rates went up from Thursday's closing of Rs 140.10 and Rs 140.80 to Rs 140.50 and Rs 141.00 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 107.60 (buying) and Rs 160.70 (selling) against same last rate. It closed at Rs 107.60 (buying) and Rs 160.70 (selling).
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