RECORDER REPORT
KARACHI: The rupee almost maintained overnight levels against the dollar on the money market on Friday in process of trading, dealers said.
OPEN MARKET RATES: The rupee showed no change versus the dollar for buying and selling at Rs 106.10 and Rs 106.30, they said. The rupee lost 50 paisas in terms of the euro for buying at Rs 125.10 while the local currency slid by Re.one for selling Rs 126.60, they said.
INTER-BANK MARKET RATES: The rupee was almost unchanged in terms of the dollar for buying and selling at Rs 105.41 and Rs 105.43, they said.
In the final Asian trade, the dollar inched higher against a basket of major currencies, having pulled back from one-month highs set this week as investors pondered the Trump administration’s tax plan and the outlook for Federal Reserve policy.
The dollar index, which tracks the greenback against a basket of six major currencies, rose 0.1 percent to 93.155, languishing below Thursday’s peak of 93.666, its highest level since Aug. 18. For the week, the dollar index has gained 1.1 percent, putting it on track for its biggest weekly gain since December.
The dollar rose this week on renewed hopes for US tax reforms, as well as commtents from Federal Reserve Chair Janet Yellen that stressed the need for gradual interest rate hikes.
The dollar was trading against the Indian rupee Rs 65.43, the greenback was at 4.227 in terms of the Malaysian ringgit and the US currency was at 6.676 versus the Chinese yuan.
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Open Bid Rs 106.10
Open Offer Rs 106.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs 105.41
Offer Rate Rs 105.43
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RUPEE IN LAHORE: The Pak rupee witnessed divergent trend in terms of the major currencies in the local currency market on Friday.
According to currency dealers, the dollar continued moving both ways following differing demands and supply situation in the currency market.
At the close, it ended at Rs 106.20 and Rs 106.60 for buying and selling, respectively, as compared to the overnight closing rates of Rs 106.30 and Rs 106.55 respectively, they added.
Likewise, the rupee also followed the same suit against the pound sterling.
The British currency was bought and sold at Rs 141.50 and Rs 142.30 against Thursday’s closing rates of Rs 141.70 and Rs 142.20 respectively, they said.
