Divergent trend was witnessed on the money market on Friday in the process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee shed its value modestly 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, however, gained 20 paisas in terms of the dollar for buying and selling at Rs 141.50 and Rs 142.00 respectively, they said. The rupee also gained one rupee in relation to the euro for buying and selling at Rs 157.50 and Rs 159.30 respectively, they said.
In the final Asian trade, the dollar looked set to end the week with a firmer tone on Friday as markets scaled back bets on a US rate cut, though much depends on what jobs data due later in the session says about the health of the economy and wages.
The currency has edged higher since Federal Reserve Chair Jerome Powell played down the recent slowing in inflation and saw no reason to cut interest rates.
That helped the dollar index recoup losses from earlier in the week to stand at 97.834 against a basket of currencies, up from a trough of 97.149.
The dollar was trading against the Indian rupee at Rs 69.223 and the Malaysian ringgit was available at 4.140 in relation to the greenback.
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Open Bid Rs.141.50
Open Offer Rs.142.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.141.30
Offer Rate Rs.141.32
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RUPEE IN LAHORE: The Pak rupee-greenback parity stayed unchanged amidst sluggish trend in the local currency market on Friday.
According to currency dealers, the greenback 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 141.60 and Rs 142.20 respectively.
In addition, the national currency showed strength and recovered its earlier losses versus the pound sterling. The pound's buying and selling rates slid from the Thursday's closing of Rs 183.60 and Rs 184.90 to Rs 183.00 and Rs 184.20 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 25 paisas against the dollar at the local currency markets of Islamabad and Rawaplindi on Friday.
The dollar opened at Rs 141.70 (buying) and Rs 141.80 (selling) against last rate of
Rs 141.95 (buying) and Rs 142.05 (selling). It closed at Rs 141.70 (buying) and Rs 141.80 (selling). The buying and selling rates of one tola of gold was Rs. 68,900 (selling) and Rs 68,700 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
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