THE RUPEE: mixed patterns

The rupee moved both ways in relation to the dollar on the currency market on Friday in the process of trading activity, dealers said. The rupee shed 11 paisas versus the dollar for buying at Rs 132.56 and it slipped by eight paisas for selling at Rs 132.58, dealers said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee picked up 50 paisas against the dollar for buying and selling at Rs 130.80 and Rs 131.50 respectively, they said. The domestic currency also lost 50 paisas in terms of the euro for buying at Rs 149.50 and it did not show any change for selling at Rs 151.00, they said.
In the final Asian trade, the dollar steadied on Friday ahead of the closely watched US jobs report, after pulling back from 16-month highs in the previous session as investors cautiously moved back into riskier assets.
The dollar index against a basket of six major currencies was little changed at 96.375 after dropping nearly 0.9 percent overnight, weighed down by a rallying sterling.
Sentiment was also buoyed by news of a phone call between US President Donald Trump and Chinese President Xi Jinping that traders hoped could signal an easing in US-China trade tensions.
The pound stood tall after the Bank of England kept interest rates steady on Thursday and hinted at slightly faster future rate rises if Brexit goes smoothly.
The dollar was trading against the Indian rupee at Rs 72.825, the greenback was available at 4.165 in terms of the Malaysian ringgit and the US currency was at 6.906 versus the Chinese yuan.

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Open Bid       Rs.130.80

Open Offer     Rs.131.50

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

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Bid Rate       Rs.132.56

Offer Rate     Rs.132.58

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RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 10 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 132.15 (buying) and Rs 132.20(selling) against last rate of Rs 132.05(buying) and Rs 132.10 (selling). It closed at Rs 132.15(buying) and Rs 132.20(selling).
The buying and selling rates of gold were Rs 59,600 (selling) and Rs 59,500 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi here on Friday.
Copyright Business Recorder, 2018