INTERBANK MARKET RATES: OPEN MARKET RATES: The rupee held the overnight levels in terms of the dollar for buying and selling at Rs 105.90 and Rs 106.10 respectively, they said. The rupee, however, lost 50 paisas in relation to the euro for buying and selling at Rs 115.00 and Rs 116.50 respectively, they said.
In the final Asian trade, the dollar edged up but was on track for a losing month against a basket of currencies, while the euro shed some of its monthly gains after the European Central Bank maintained its easing bias.
The dollar index, which tracks the greenback against a basket of six major rivals, edged up 0.1 percent to 99.205, but down 0.8 percent for the week and 1.1 percent for April. The euro was down 0.1 percent at $1.0863, but up 1.3 percent for the week and two percent for the month.
ECB chief Mario Draghi said on Thursday after the central bank's policy meeting that removal of the bank's easing bias was not discussed, stressing the barriers the ECB still faces before beginning to tighten its ultra-loose financing conditions.
However, he also said that euro zone's recovery was increasingly solid and downside risks had diminished. "My feeling is that Draghi's statement will be an important factor to set the tone for the euro's movement next month," said Masashi Murata, currency strategist for Brown Brothers Harriman in Tokyo. "He said the ECB is unlikely to start its exit strategy this year." Against its Japanese counterpart, the dollar inched 0.1 percent lower on the day to 111.30 yen, up 1.9 percent for the week but still down 0.2 percent for the month. The dollar was trading against the Indian rupee at Rs 64.235, the greenback was available at 4.347 in terms of the Malaysian ringgit and the US currency was at 6.892 in relation to the Chinese yuan.
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Open Bid Rs 105.90
Open Offer Rs.106.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.104.79
Offer Rate Rs.104.81
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RUPEE IN LAHORE: The rupee-dollar parity stayed unchanged amid sluggish trend in the local currency market on Friday.
According to currency dealers, the demand and supply situation of the US dollar remained intact that kept the local currency stabilise.
At the close, no change in its value took place as it sustained its opening trend of Rs 105.80 and Rs 106.10 on buying and selling counters, they added. Moreover, the national currency remained under pressure for the second consecutive day against the pound sterling. The pound's buying and selling rates further drifted from Thursday's closing rates of Rs 135.30 and Rs 136.10 to Rs 135.60 and Rs 136.30 respectively, they said.