An abrupt rise in the dollar value globally pushed it up in the local market also, dealers said. They said that the local currency might lose further if the greenback continues its appreciation in the international markets.
"If the dollar comes under pressure for any reason in the world markets, the rupee might be able to regain its lost ground," they added.
In kerb the rupee recovered 12 paisa versus the dollar for buying and selling at Rs 57.90 and Rs 57.95, respectively.
In fact, supply of dollars eased in the market as a result of profit-taking in its business after a slight fall in the overseas markets, dealers said.
International trend was mirrored in the open market, dealers said, and added that a small number of investors sold dollars in apprehension of slide in dollar value in the near future.
The euro matched with the overseas market trend, recovering 45 paisa against the rupee for buying and selling at Rs 69.15 and Rs 69.45, respectively.
The dollar fell versus the euro. However, it gained in terms of yen in the international markets as the US rate hike outlook clouded, moneychangers said.
In the world markets, at the weekend, the dollar moved both ways as data pointing to higher inflation and sluggish job gains tempered investors' near-term expectations for a rise in US interest rates, dealers said.
================================
Kerb Buying Rs 57.90
Kerb Selling Rs 57.95
================================
INTERBANK CLOSING RATES: Interbank Closing Rates For Dollar On Friday.
==============================
Buying Rs 57.49
Selling Rs 57.51
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 2.00 6.25 2.50 6.50 4.31
1-Week 2.65 2.85 3.20 3.40 3.03
2-Week 2.80 3.00 3.20 3.40 3.10
1-Month 1.90 2.00 2.20 2.40 2.13
2-Months 1.80 1.90 2.10 2.30 2.03
3-Months 1.85 1.95 2.20 2.30 2.08
4-Months 1.90 2.00 2.20 2.40 2.13
5-Months 1.90 2.00 2.20 2.40 2.13
6-Months 2.10 2.20 2.40 2.50 2.30
9-Months 2.20 2.40 2.60 2.80 2.50
1-Years 2.40 2.60 2.80 3.00 2.70
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 2.25 6.50 2.75 6.75 4.56
1-Week 2.80 3.00 3.20 3.40 3.10
2-Week 3.00 3.20 3.40 3.60 3.30
1-Month 2.00 2.20 2.40 2.60 2.30
2-Month 1.90 2.10 2.30 2.50 2.20
3-Month 2.00 2.20 2.40 2.60 2.30
4-Month 2.10 2.30 2.50 2.70 2.40
5-Month 2.30 2.50 2.70 2.90 2.60
6-Month 2.30 2.45 2.60 2.75 2.53
9-Month 2.40 2.60 2.80 3.00 2.70
1-Years 2.50 2.70 2.90 3.10 2.80
=================================================================
RUPEE IN LAHORE: The rupee on Friday recovered five-paisa in relation to dollar in Lahore currency market.
According to dealers, the investors offloaded their dollar holdings in a bid to pocket the available margin, which provided stability to the local currency.
The dollar resumed trading at overnight closing rates of Rs 58.00 and Rs 58.10 as its buying and selling rates, respectively, but it could not sustain on account of lack of buyers.
At the end of the day, the dollar closed lower at Rs 57.95 and Rs 58.05 on buying and selling counters, respectively, dealers added.
On the contrary, the rupee could not maintain its upward trend and registered depreciation against pound sterling.
The pound's buying rate improved from Thursday's Rs 102.80 to Rs 103.20, while selling rate improved from Rs 103.20 to Rs 103.55, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar surged by 15 paisa against the rupee at the currency shops of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 57.90 (buying) and Rs 58 (selling) against the overnight value of Rs 57.75 (buying) and Rs 57.85 (selling) respectively. It did not observe any further change in the evening session and closed at Rs 57.90 (buying) and Rs 58 (selling).
Pound sterling opened at Rs 103 (buying) and Rs 103.40 (selling) against the same last rate. It did not witness any further change in the evening session and closed at Rs 103 (buying) and Rs 103.40 (selling).
Canadian dollar opened at Rs 43 (buying) and Rs 43.10 (selling) against the same previous rate. It remained firm against the rupee in the evening spell and closed at Rs 43 (buying) and Rs 43.10 (selling).