The rupee moved both ways against the dollar on the money market on Friday in process of trading activity, dealers said. The rupee shed slight gains versus the dollar for buying and selling at Rs 156.25 and Rs 156.28, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee, however, picked up 10 paisas in relation the dollar for buying and selling at Rs 155.90 and Rs 156.40, they added.
Whereas, the rupee lost 80 paisas in terms of the euro for buying and selling at Rs 172.30 and Rs 174.30, they added.
In the final Asian trade, the yen was pinned near a six-week low versus the dollar on Friday as signs the United States and China were narrowing their differences over trade ahead of key talks decreased demand for safe haven assets.
That nudged the yuan up to near four-week highs against the US currency in offshore trade, while the euro held steady after swinging wildly on Thursday following the European Central Bank's surprise decision to resume government debt purchases from November to support a flagging economy.
In the very short-term, guarded optimism about a resolution to the US-China trade war should continue to push Treasury yields higher and weigh on safe-haven currencies.
However, this confidence could be short-lived as the US Federal Reserve is widely expected to cut interest rates next week while the ECB's easing places pressure on the Bank of Japan to follow suit.
The dollar was available against the Indian rupee at Rs 70.965 and the greenback was available at 4.162 in terms of the Malaysian ringgit.
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Open Bid Rs.155.90
Open Offer Rs.156.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.156.25
Offer Rate Rs.156.28
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RUPEE IN LAHORE: The Pak rupee continued upward trend for the second consecutive day versus the greenback in the local currency market on Friday.
Following lack of buyers' interest in the market, the greenback continued to fall for another day and ended lower for buying and selling at Rs 155.70 and Rs 156.40 against the previous closing rate of Rs 156.00 and Rs 156.45 respectively, local currency dealers said.
On the other hand, the rupee drastically declined its worth in process of trading against the pound sterling. The pound's buying and selling rates rose from the Thursday's closing trend of Rs 191.60 and Rs 192.45 to Rs 193.00 and Rs 194.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 30 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 156.60 (buying) and Rs 156.70 (selling) against last rate of Rs 156.90 (buying) and Rs 157 (selling). It closed at Rs 156.60(buying) and Rs 156.70(selling).
The buying and selling rates of one tola of gold were Rs 87,700 (selling) and Rs 87,200(buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
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