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The rupee managed to gain modestly against the dollar on the money market on Friday in the process of trading activity, dealers said.

INTER-BANK MARKET RATES: The rupee picked up 27 paisas versus the dollar for buying and selling at Rs 156.30 and Rs 156.35 respectively, they said.

OPEN MARKET RATES: The rupee was unchanged in relation the dollar for buying and selling at Rs 156.00 and Rs 156.50 respectively.

The rupee showed no change in terms of the euro for buying and selling at Rs 171.30 and Rs 173.30 respectively.

In the final Asian trade, the Upbeat US economic data gave the dollar an edge over its peers on Friday, arresting a recent flight from the greenback while also supporting Asian currencies as investors toned down their recent gloom over the global economy.

Separate surveys suggested the world's largest economy is in better shape than investors had feared. US service sector activity accelerated in August and private employers boosted hiring beyond expectations.

It contributed to a broad risk-on shift in currency, bond and stock markets stoked by news that China-US trade talks would resume next month.

The data kept the dollar steady against most major currencies while investors waited for a monthly payrolls report due at 1230 GMT for the next snapshot on the labour market's health.

The dollar was trading against the Indian rupee at Rs 71.695, the greenback was at 4.175 in terms of the Malaysian ringgit and the US currency was at 7.146 versus the Chinese yuan.





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Open Bid Rs.156.00

Open Offer Rs.156.50

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





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Bid Rate Rs.156.30

Offer Rate Rs.156.35

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RUPEE IN LAHORE: The Pak rupee depreciated its worth in process of trading against the greenback in the local currency market on Friday.

According to currency dealers, the short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 156.30 and Rs 157.30 against the overnight closing rate of Rs 156.20 and Rs 156.60 respectively.

On the other hand, the rupee witnessed divergent trend as it moved both ways in relation to the pound sterling. The British currency was bought and sold at Rs 190.50 and Rs 192.50 against the Thursday's closing of Rs 192.00 and Rs 192.80 respectively, they added.

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

The dollar opened at Rs 156.80(buying) and Rs 156.90(selling) against same last rate.

It closed at Rs 156.80(buying) and Rs 156.90(selling).

The buying and selling rates of one tola of gold were Rs. 89,000 (selling) and Rs 88,500(buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2019


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