As a result of falling demand for the US dollars, the rupee maintained upward trend against the greenback on the money market on Friday in the process of trading activity, money experts said. Commenting on the fresh rise in rupee's value, they said that one of the leading factors behind the local currency's gain is decline in dollars' buying by Chinese, who are in Pakistan for doing business.
Chinese traders and businessmen went to their homeland to spend long national holidays with their families.
Besides, the dollar lost its lustre partly because of bearish trend in the international equities market, they said. Furthermore, common interest also came down due to rupee's firm position versus the dollar, they said, adding thus the rupee has gained nearly 70 paisas at Rs 111.20 and it may maintain rising trend on the open market for the short-term, they said.
In the final Asian trade, the yen neared a four-month high against the dollar on Friday as global stock markets plunged again, triggering a rush into traditional safe-haven currencies.
The dollar slipped to 108.56 yen, edging near its four-month low of 108.28 hit on Jan. 26, and having lost 1.3 percent so far this week.
The yen also tends to be bought at time of economic stress, because Japan's current account surplus tends to give protection to the yen compared to vulnerability of deficit-running countries.
The dollar was trading against the Indian rupee at Rs 64.360, the greenback was at 3.937 in relation to the Malaysian ringgit and the US currency was available at 6.329 versus the Chinese yuan.

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Open Bid       Rs 111.20
Open Offer     Rs 111.50
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Open Bid       Rs 110.54
Open Offer     Rs 110.55
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