The rupee managed to gain against the dollar on the local currency market on Friday in process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee maintained upward trend in terms of the dollar, picking up 25 paisas for buying and selling at Rs 138.55 and Rs 138.60 respectively, they said.
OPEN MARKET RATES: In line with the inter-bank market, the rupee recovered 30 paisas in relation to the dollar for buying and selling at Rs 138.70 and Rs 139.20 respectively, they said. The rupee appreciated by 50 paisas against the euro for buying and selling at Rs 156.50 and Rs 158.30 respectively, they said.
In the fourth Asian trade, the dollar hovered near a 10-week high against the yen on Friday, thanks to a surge in Treasury yields after US gross domestic product data topped expectations.
The greenback was a touch higher at 111.445 yen and within striking distance of 111.495, its strongest level since Dec. 20 brushed overnight.
The dollar index against a basket of six major currencies stood at 96.222 after grinding out a 0.15 percent gain on Thursday, when it pulled back from a three-week trough of 95.824.
The overnight wobbles in the US currency came as the euro rallied on growing expectations that the European economy may have turned a corner.
But the dollar managed to claw back its losses after data showed US gross domestic product increased at a 2.6 percent annualised rate in the fourth quarter, above economists' forecasts for a 2.3 percent gain.
The dollar was trading against the Indian rupee at Rs 70.833, the greenback was at 4.070 versus the Malaysian ringgit and the US currency was at 6.698 in terms of the Chinese yuan.
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Open Bid Rs.138.70
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.138.55
Offer Rate Rs.138.60
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RUPEE IN LAHORE: The Pak rupee showed strength as it recovered its earlier losses versus the major foreign currencies including the greenback and the British pound in the local currency market on Friday.
Following lack of buyers' interest in the market, the greenback depreciated its worth and ended lower for buying and selling at Rs 139.00 and Rs 139.70 against the overnight closing trend of Rs 139.10 and Rs 140.00 respectively, local currency dealers said.
Likewise, the rupee also followed the same suit in relation to the pound sterling. Consequently, the pound's buying and selling rates slipped from the Thursday's closing of Rs 182.00 and Rs 183.50 to Rs 181.30 and Rs 183.00 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 5 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs139.20 (buying) and Rs 139.25 (selling) against last rate of Rs 139.25 (buying) and Rs 139.30 (selling). It closed at Rs 139.20 (buying) and Rs 139.25 (selling).
The buying and selling rates of one tola of gold was Rs. 69,200 (selling) and Rs 69,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
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