The rupee moved both ways against the dollar on the money market on Friday in the process of trading, dealers said. The rupee picked up two paisas versus the dollar for buying and selling at Rs 138.84 and Rs 138.86 respectively, they said.
INTER-BANK MARKET RATES: In the final Asian trade, the dollar fell versus its major peers on Friday, as investors grew increasingly confident that the US Federal Reserve may hit the pause button on monetary tightening this year.
Fed Chairman Jerome Powell reiterated on Thursday the US central bank has the ability to be patient on monetary policy given that inflation remains stable. Markets are now pricing in no further rate hikes by the Fed this year.
Fed Vice Chair Richard Clarida also struck a dovish tone, underscoring the central bank's willingness to remain patient on the issue of raising rates.
The dollar index fell by 0.17 percent to 95.37. The index has fallen around 2.2 percent since mid-December on expectations that a slowdown in growth, both in the United States as well as globally, will restrict the Fed from raising rates in 2019.
The dollar was trading against the Indian rupee at Rs 70.420, the greenback was at 4.094 in terms of the Malaysian ringgit and the US currency was available at 6.749.
OPEN MARKET RATES: The rupee shed 10 paisas in terms of the dollar for buying at Rs 138.80 and it also fell by 20 paisas for selling at Rs 139.20, they said. The rupee, however, gained 20 paisas versus the euro for buying and selling at Rs 159.00 and Rs 160.80, they said.
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Open Bid Rs.138.80
Open Offer Rs.139.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.138.84
Offer Rate Rs.138.86
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RUPEE IN LAHORE: The Pak rupee registered reduction in process of trading versus the major foreign currencies including the greenback and the British pound in the local currency market on Friday.
According to currency dealers, the short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation by 20 paisas for buying and selling at Rs 138.70 and Rs 139.60 against the overnight closing trend of Rs 138.50 and Rs 139.40 respectively.
Similarly, the local currency also followed the same suit in relation to the pound sterling. Consequently, the pound's buying and selling rates improved from Thursday's closing of Rs 175.50 and Rs 176.80 to Rs 176.00 and Rs 177.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 15 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 138.85 (buying) and Rs 139.05 (selling) against last rate of Rs 138.70 (buying) and Rs 138.90 (selling). It closed at Rs 138.85 (buying) and Rs 139.05(selling).
The buying and selling rates of one tola of gold was Rs 67,800 (selling) and Rs 67,5000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
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