The rupee managed to gain modestly in relation to the dollar on the money market on Friday in process of trading, dealers said. The rupee showed rising trend versus the dollar for buying and selling at Rs 138.80 and Rs 138.82 respectively, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee did not show any change in terms of the dollar for buying at Rs 138.80, it however, shed 10 paisas for selling Rs 139.30, they said. The rupee shed slightly against the euro for buying and selling at Rs 157.80 and Rs 159.30 respectively, they said.
In the final Asian trade, the dollar was firm against the yen on Friday as growing optimism on progress in Sino-US trade talks supported broader appetite for risk.
A Wall Street Journal report on Thursday that US Treasury Secretary Steven Mnuchin had considered easing tariff imposed on Chinese imports lifted sentiment though a Treasury spokesman later denied the report.
"The reaction of the market to the report shows the overall optimistic view (is) spreading out across the foreign exchange market," said Masafumi Yamamoto, chief currency strategist at Mizuho Securities.
Chinese Vice Premier Liu He will visit the United States on Jan 30 and 31 for the latest round of trade talks aimed at resolving the trade standoff between the world's two largest economies.
The dollar index, which measures the greenback against six major peers, was a shade higher at 96.088 after briefly rising to a near two-week high of 96.264 during the previous session.
The dollar was trading against the Indian rupee at Rs 71.108, the greenback was available at 4.114 in terms of the Malaysian ringgit and the US currency was at 6.778 versus the Chinese yuan.
Open Bid Rs.138.80
Open Offer Rs.139.30
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
Bid Rate Rs.138.80
Offer Rate Rs.138.82
RUPEE IN LAHORE: The Pak rupee appreciated its worth on buying side while it stayed unchanged on selling side in relation to the greenback in the local currency market on Friday.
According to currency dealers, the greenback lost 20 paisas and ended for buying at Rs 138.60 against the overnight closing rate of Rs 138.80 whereas it firmly sustained its opening trend for selling at Rs 139.80.
Moreover, the national currency maintained declining trend for the third consecutive day against the pound sterling. The pound's buying and selling rates further slipped from Thursday's closing of Rs 178.20 and Rs 179.50 to Rs 179.00 and Rs 180.30 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 5 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 139(buying) and Rs 139.10(selling) against last rate of Rs 138.95(buying) and Rs 139.05(selling). It closed at Rs 139(buying) and Rs 139.10(selling).
The buying and selling rates of one tola of gold was Rs 67,800(selling) and Rs 67,5000(buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.