Sharp gain vs dollar

Pakistan rupee gained strength against major currencies on Friday in both markets.

INTER-BANK MARKET RATES: Rupee appreciated by 3.8 rupees Friday for buying rate closing at Rs 163 against the dollar. For selling rate, it closed at Rs 164, thus gaining 3.2 rupees over the dollar.

OPEN MARKET RATES: In open market, rupee appreciated by 3.5 rupees for buying rate, closing at Rs 163 while for selling rate it gained 2.5 rupees closing at Rs 164.50

Against Euro, rupee closed at Rs 176 and Rs 178 for buying and selling respectively thus gaining 3.00 rupees over Euro as compared to Thursday's rates.

In case of UAE Dirham, buying rate closed at Rs 43.00 while selling rate closed at Rs 43.50. Against Saudi Riyal, buying rate closed at Rs. 41.00, while selling rate closed at Rs 41.50. Against both of these currencies, rupee gained 50 paisas and 1.00 rupee in buying and selling rates respectively.

LAHORE

The Pak rupee considerably gained its worth versus major currencies including the greenback and the British pound in the local currency market on Friday.

Amidst lack of buyers' interest in the market, the greenback could not sustain its worth throughout the trading session and ended lower for buying and selling at Rs 163.50 and Rs 164.50 against the overnight closing rate of Rs 167.00 and Rs 167.80 respectively, local currency dealers said.

Likewise, the local currency also followed the suit in relation to the pound sterling that was bought and sold at Rs 197.50 and Rs 199.50 against the Thursday's closing trend of Rs 201.00 and Rs 203.50 respectively, they added.

ISLAMABAD

The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi on Friday.

The dollar opened at Rs 167.25(buying) and Rs 167.35(selling) against same last rate.

It closed at Rs 167.25(buying) and Rs 167.35(selling)

The buying and selling rates of one tola of gold were Rs. 95,700 and Rs 95,500(buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.