Rupee firms against dollar

KARACHI: The rupee fluctuates against the dollar on Friday in the money market but the dollar recovered more solid gains on the money market, however, it shed modestly on the interbank market, ARY News has learnt.

The rupee increased by 20 paisa against dollar, closing at  Rs 98.40 and Rs 98.50 for buying and selling respectively in the inter-bank market.

The national currency in open market, however, dropped sharply by Rs.1 against the dollar for buying at Rs 100.20, while it fell by 80-paisa for selling at Rs 100.50.

Analysts claimed that rupee strengthen mainly due to the intervention of central bank. They said that improvement in the supply of dollars is another major reason behind the increasing value of rupee.