Pak Rupee: Dollar at 82

Saturday July 11, 2009

KARACHI: The rupee has failed to come out of weak spells on rising demand by the importers, falling 25 paisa against dollar for buying and selling at 82.00 and 82.05, dealers said on the interbank market on Friday.

Increasing demand by importers, forced the rupee to come down versus dollar and it is most likely it may not be able to resist sharp losses for the near future, they said. In the final Asian session yen held steady, holding below the week's peaks with investors cautious as the US corporate earnings season gets under way, while euro lost ground against dollar and yen.

The yen hit a five-month high against dollar this week and surged to two-month highs against euro and Australian dollar as investors unwound bets in riskier assets that they made using the low-yielding Japanese currency.

Open Market Rates: The rupee drifted lower against the US currency, losing 20 paisa for buying at 82.00 and 25 paisa for selling at 82.30, dealers said. The rupee followed the same pattern in relation to euro, falling 46 paisa for buying and selling at Rs 112.84 and Rs 113.84, they said.

Buying Rs 82.00
Selling Rs 82.05

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

Open Buying Rs 82.00
Open Selling Rs 82.30

(BRecorder)