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The rupee fell modestly against the dollar on the money market on Friday amid post-holiday session, dealers said.

INTER-BANK MARKET RATES: The rupee dropped 52 paisas versus the dollar for buying and selling at Rs 158.95 and Rs 159.00, they said.

OPEN MARKET RATES: The rupee shed 50 paisas in relation to the dollar for buying Rs 159.00 while it maintained last level for selling at Rs 159.50, dealers said. The rupee, however, gained slightly against the euro for buying and selling at Rs 174.70 and Rs 176.70 respectively, they said.

In the final Asian trade, the dollar held onto gains on Friday after a surge in US retail sales eased concerns about the world's top economy, but traders cautioned against reading too much into one piece of data given the growing risks to the outlook.

The greenback was on course for a weekly gain against safe-haven currencies such as the Japanese yen and the Swiss franc, pointing to some respite for frayed nerves after fears of recession and protests in Hong Kong rattled financial markets.

During Asian trading the dollar briefly extended gains and the yen fell as Japanese stocks erased early losses to trade higher and as US Treasury yields rose slightly. The move quickly faded, however, partly reflecting thin treading due to the summer holiday season.

Against a basket of six major currencies, the dollar index edged higher to 98.218. Since hitting a three-week low on Aug. 9, the dollar index has recovered, rising around 1%.

The dollar was trading against the Indian rupee at Rs 71.233, the greenback was at 4.176 in terms of the Malaysian ringgit and the US currency was available at 7.037 versus the Chinese yuan.





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Open Bid Rs.159.00

Open Offer Rs.159.50

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.





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Bid Rate Rs.158.95

Offer Rate Rs.159.00

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RUPEE IN LAHORE: The Pak rupee depreciated its worth versus the major foreign currencies including the greenback and the British pound in the local currency market on Friday.

The short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 159.00 and Rs 159.70 against the previous closing rates of Rs 157.50 and Rs 159.00 respectively, local currency dealers said.

Similarly, the national currency also followed the suit in relation to the pound sterling. Consequently, the pound's buying and selling rates rose from the earlier closing trend of Rs 190.50 and Rs 192.00 to Rs 191.20 and Rs 192.50 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 40 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Friday.

The dollar opened at Rs 159.80 (buying) and Rs 159.90 (selling) against last rate of Rs 160.20 (buying) and Rs 160.30 (selling).

It closed at Rs 159.80 (buying) and Rs 159.90(selling).

The buying and selling rates of one tola of gold remained as Rs 90,669 (selling) and Rs 90,000(buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2019


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