An easier trend prevailed on the money market on Friday as the rupee tended lower versus the dollar in the process of trading activity, dealers said. The rupee lost 20 paisas in terms of the dollar for buying and selling at Rs 156.53 and Rs 156.55 respectively, they said.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee followed the suit against the dollar in the open market, losing 20 paisas for buying and selling at Rs 156.20 and Rs 156.70 respectively, they added.
The rupee continued erosion versus the euro, shedding further 25 paisas for buying and selling at Rs 171.00 and Rs 173.00 respectively, they added.
In the final Asian trade, the dollar stepped back on Friday after a soft US service sector survey stoked worries that pressure from US trade disputes with China and other countries could spill over into the broader US economy and tip it into a recession.
The dollar index fell to 98.905, shedding about 0.8% after hitting 2 1/2-year high this week. Against the yen, the US currency eased to 106.91 yen, having fallen to one-month low of 106.48 in US trade on Thursday.
The euro stood at $1.0972, extending its recovery from a near 2 1/2-year low of $1.0879 set on Tuesday.
The dollar was trading against the Indian rupee at Rs 70.860 and the greenback was at 4.183 in terms of the Malaysian ringgit.
Open Bid Rs.156.20
Open Offer Rs.156.70
Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
Bid Rate Rs.156.53
Offer Rate Rs.156.55
RUPEE IN LAHORE: The Pak rupee depreciated its worth versus major currencies including the greenback and the British pound 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 156.70 against the overnight closing trend of Rs 156.20 and Rs 156.45 respectively.
Likewise, the rupee also followed the suit for the second consecutive day against the pound sterling. The pound's buying and selling rates further improved from the Thursday's closing of Rs 191.55 and Rs 192.80 to Rs 192.50 and Rs 193.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 10 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 156.60 (buying) and Rs 156.70 (selling) against last rate of Rs 156.70 (buying) and Rs 156.80 (selling).
It closed at Rs 156.60 (buying) and Rs 156.70 (selling).
The buying and selling rates of one tola of gold were Rs. 69,100 (selling) and Rs 69,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.