RECORDER REPORT
KARACHI: The rupee moved both ways against the dollar on the money market on Friday in process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee inched down by one paisa in relation to the dollar for buying and selling at Rs 110.55 and Rs 110.56 respectively, they said.
In the final Asian trade, the dollar nursed losses against a basket of currencies on Friday and was on track for a weekly fall as investors focused on renewed economic strength in the eurozone.
The yen, meanwhile, largely shrugged off a special bond purchase operation by the Bank of Japan to stem the rise in Japanese bond yields which had tracked their global peers higher.
The dollar index, which tracks the greenback against a basket of six major rivals, was nearly flat on the day at 88.701, holding above a three-year low of 88.429 set one week ago but still down 0.4 percent for the week.
The euro edged down 0.1 percent on the day to $1.2499, but remained within sight of last week's 3-year high of $1.2538. For the week, it was up 0.6 percent.
On Friday, the BOJ offered to buy an unlimited amount of JGBs with more than five to ten years left to maturity at 2 basis points above the previous close, which is 0.110 percent - the same level at which it has offered similar unlimited buying in the past.
The dollar was trading against the Indian rupee at Rs 64.070, the greenback was at 3.887 in terms of the Malaysian ringgit and the US currency was at 6.282 versus the Chinese yuan.
OPEN MARKET RATES: The rupee shed five paisas in terms of the dollar for buying at Rs 111.80, however it gained 15 paisas for selling and Rs 112.10, they said. The rupee lost 40 paisas versus the euro for buying and selling at Rs 139.20 and Rs 141.20 respectively, they added.
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Open Bid Rs.111.80
Open Offer Rs.112.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.110.55
Offer Rate Rs.110.56
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RUPEE IN LAHORE: The rupee-dollar parity stayed unchanged amidst sluggish trend in the local currency market on Friday.
According to currency dealers, the US dollar resumed trading on its overnight closing trend of Rs 111.85 and Rs 112.25 as its buying and selling rates respectively, respectively. The dollar did not witness any change in its buying and selling rate which firmly prevailed till close of trading, they added.
Furthermore, the national currency showed strength as it recovered by 20 paisas in process of trading against the British pound. The pound's buying and selling rates slid from Thursday's closing of Rs 158.00 and Rs 159.00 to Rs 157.80 and Rs 158.80 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 112.25 (buying) and Rs 112.35 (selling) against last rate. It closed at Rs 112.25 (buying) and Rs 112.35 (selling).
