Firmness prevailed on the money market on Friday as the rupee managed to gain slightly against the dollar in the process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee rose by eight paisas in terms of the dollar for buying and selling at Rs 141.30 and Rs 141.32 respectively, they said.
OPEN MARKET RATES: The rupee was unchanged in relation to the dollar for buying and selling at Rs 142.50 and Rs 143.00 respectively, they said. The rupee managed to recover 70 paisas versus the euro for buying and selling at Rs 160.30 and Rs 162.10 respectively, they said.
In the final Asian trade, the dollar rose to a three-week high versus the yen on Friday, lifted by expectations that a protracted trade dispute between the United States and China would be resolved soon.
The greenback has gained about 0.85 percent against its safe-haven Japanese peer this week, thanks also to factors such as strong US economic data and broad improvement in risk appetite.
The trade war between the world's two biggest economies has been a major distraction for financial markets over the past year, with riskier assets in particular taking a hit on worries about the broadening business and growth impact of the conflict.
US President Donald Trump said on Thursday both countries were getting very close to a trade deal that could be announced within four weeks.
The dollar index against a basket of six major currencies was unchanged at 97.300 after rising 0.2 percent the previous day.
The dollar was trading against the Indian rupee at Rs 69.250 and the greenback was at 4.080 in terms of the Malaysian ringgit.
========================
Open Bid Rs.142.50
Open Offer Rs.143.00
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
========================
Bid Rate Rs.141.30
Offer Rate Rs.141.32
========================
RUPEE IN LAHORE: The Pak rupee-dollar parity stayed unchanged amidst sluggish trend in the local currency market on Friday.
According to currency dealers, the US dollar did not observe any change in its demand and supply situation throughout the trading session as it firmly sustained its opening trend for buying and selling at Rs 142.50 and Rs 143.00 respectively.
On the other hand, the rupee showed stability as it recovered its earlier losses versus the pound sterling. The pound's buying and selling rates slid from the Thursday's closing of Rs 189.10 and Rs 190.00 to Rs 187.00 and Rs 188.40 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed a recovery of 40 paisas against the dollar at the local currency markets of Islamabad and Rawaplindi on Friday.
The dollar opened at Rs 142.10 (buying) and Rs 142.20 (selling) against last rate of Rs 142.50 (buying) and Rs 142.60 (selling). It closed at Rs 142.10 (buying) and Rs 142.20 (selling) by the end of evening session.
Comments
Comments are closed.