RECORDER REPORT
KARACHI: The rupee managed to recover sharply against the dollar on the money market on Friday in the process of trading activity, dealers said.
INTER-BANK MARKET RATES: The rupee stayed put in relation to the dollar for buying and selling at Rs 115.61 and Rs 115.62 respectively, they said.
In the final Asian trade, the dollar held steady against a basket of currencies on Friday, having retreated from four-month highs on profit-taking, with the focus on whether US jobs data will provide the spark for another push higher.
The dollar's index against a basket of six major currencies held steady at 92.417. That was down from a peak of 92.834 set on Wednesday, the greenback's strongest level since late December.
The dollar index has climbed more than 0.9 percent so far this week, putting it on track for a third straight weekly gain.
The dollar was trading against the Indian rupee at Rs 66.68, the greenback was at 3.932 in terms of the Malaysian ringgit and the US currency was available at 6.347 versus the Chinese yuan.
OPEN MARKET RATES: The rupee after maintaining a stable trend for some days in terms of the greenback, reacted positively, picking up 40 paisas in relation to the dollar for buying and selling at Rs 117.80 and Rs 118.30 respectively, they said. The rupee maintained upward trend in terms of the euro, gaining 80 paisas for buying and selling at Rs 140.80 and Rs 142.50 respectively, they added.
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Open Bid Rs.117.80
Open Offer Rs.118.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.115.61
Offer Rate Rs.115.62
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RUPEE IN LAHORE: The Pak rupee appreciated in terms of trading against the major foreign currencies including the American dollar and British pound in the local currency market on Friday.
According to currency dealers, the US dollar resumed trading on a negative note following fresh supply in the market. Consequently, the dollar could not hold its strength and ended for buying and selling at Rs 117.70 and Rs 118.50 as compared to the overnight closing trend of Rs 118.30 and Rs 118.70 respectively, they added.
Versus the pound sterling, the national currency maintained upward trend for the third consecutive day. The pound's buying and selling rates further slid from Thursday's closing of Rs 160.80 and Rs 161.50 to Rs 158.80 and Rs 161.00 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 11.30 (buying) and Rs 118.40 (buying) against same last rate. It closed at Rs 11.30 (buying) and Rs 118.40 (buying).
