INTER-BANK MARKET RATES: OPEN MARKET RATES: In sympathy with the inter-bank market trend, the rupee also gave up steadier trend, losing 20 paisas against the dollar for buying and selling at Rs 138.00 and Rs 138.50 respectively, they said. The rupee also lost about 40 paisas versus the euro for buying and selling at Rs 156.00 and Rs 157.80 respectively, they said.
In the final trade, the dollar held near a two-week high on Friday, as investors rushed to the safety of the greenback following a setback in US-China trade negotiations and broader worries about slowing global growth.
Such concerns were brought to the fore on Thursday after the European Commission sharply cut its forecasts for euro zone economic growth this year and next on expectations the bloc's largest countries will be held back by global trade tensions and domestic challenges.
Investors' anxieties about the global economy were also compounded by comments from US President Donald Trump, who said he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline to achieve a trade deal.
The index has gained for six straight sessions in a row. This was mainly due to a weaker euro, which has around 58 percent weightage in the index, and came despite the Federal Reserve's dovish shift on interest rates last week.
The euro was marginally lower at $1.1338, on track to post its fifth straight day of losses. The single currency has been stumbling due to weaker-than-expected growth data out of the eurozone and expectations that the European Central Bank will keep monetary policy accommodative this year.
The dollar was available against the Indian rupee at Rs 71.290 and the greenback was at 4.069 versus the Malaysian ringgit.
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Open Bid Rs.138.00
Open Offer Rs.138.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Bid Rate Rs.138.35
Offer Rate Rs.138.40
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RUPEE IN LAHORE: The Pak rupee showed stability as it appreciated its worth against the US dollar in the local currency market on Friday.
Following lack of buyers' interest in the market, the dollar registered reduction and ended lower for buying and selling at Rs 137.60 and Rs 138.25 against the overnight closing trend of Rs 137.80 and Rs 138.30 respectively, local currency dealers said.
However, the national currency failed to hold its earlier recoveries in relation to the pound sterling. The pound's buying and selling rates rose from the Thursday's closing of Rs 177.20 and Rs 178.50 to Rs 177.55 and Rs 179.00 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained five paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 138 (buying) and Rs 138.05 (selling) against last rate of Rs 137.95 (buying) and Rs 138 (selling). It closed at Rs 138 (buying) and Rs 138.05(selling).
The buying and selling rates of one tola of gold was Rs Rs. 67,300 (selling) and Rs 67,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and
Islamabad.