Firm trend was seen on the money market on Friday as the rupee firmly held the overnight levels in terms of the dollar in the process of trading activity, dealers said. The rupee did not show any major change versus the dollar for buying and selling at Rs 138.90 and Rs 138.92 respectively, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee stayed put in relation to the dollar for buying and selling at Rs 138.60 and Rs 139.10 respectively, while it shed 20 paisas against the euro for buying at Rs 156.00 and it also lost 50 paisas for selling at Rs 157.80, they said.
In the final Asian trade, the dollar held near 3-month highs against the euro on Thursday, benefiting from sustained strength in core US inflation and weak data out of Europe.
Although headline US inflation growth logged its weakest pace in 1-1/2-years in January, traders focused on the core price gauge, which was up for the third straight month and gave the dollar some impetus.
The greenback was hit earlier this year from a shift to a cautious stance by the Federal Reserve. The latest data suggested the central bank will need to stay vigilant on pricing pressures even as it adjusts policy imperatives in the face of heightened risks to growth.
The dollar index, a gauge of its value versus six major peers, was marginally higher at 97.20, having gained 0.5 percent in the previous session. The index has rallied 1.7 percent so far this month, after two consecutive months of losses.
The dollar was trading against the Indian rupee at Rs 70.840, the greenback was at 4.063 in terms of the Malaysian ringgit and the US currency was at 6.762 versus the Chinese yuan.
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Open Bid Rs.138.60
Open Offer Rs.139.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.138.90
Offer Rate Rs.138.92
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RUPEE IN LAHORE: The Pak rupee depreciated its worth on buying side while it stayed unchanged on selling side in relation to the US dollar in the local currency market on Friday.
According to currency dealers, the dollar gained 10 paisas and ended higher for buying at Rs 138.70 against the overnight closing rate of Rs 138.60 whereas it firmly sustained its opening trend for selling at Rs 139.50.
In addition, the national currency continued to keep going up for the second consecutive day versus the pound sterling. Consequently, the pound's buying and selling rates further declined from the Thursday's closing of Rs 177.50 and Rs 178.90 to Rs 177.00 and Rs 178.00 respectively, they added.
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 Rs138.90 (buying) and Rs 139 (selling) against last rate of Rs 138.90 (buying) and Rs 139 (selling). It closed at Rs138.90 (buying) and Rs 139 (selling).
The buying and selling rates of one tola of gold was Rs Rs. 67,300 (selling) and Rs 67,000(buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
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