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ISLAMABAD

The rupee gained strength against the dollar in the currency exchange establishments of twin cites on Friday.

The markets resumed trading with a weaker greenback at Rs 53.95 as compared to Thursday's Rs 54. The rupee did not observe significant change till close and was sold at Rs 54.05.

Dealers were of the view that the market opened on a positive note following participation of margin hunters and major players in the first session. The trade volume expanded in the second session and the market closed on a healthy note.

They said that shortage of the rupee in the kerb resulted in a comparatively better greenback in both sessions.

The money changers of Islamabad and Rawalpindi remained active in hot favourite currencies like the dollar, pound and dirham in both sessions, they added.

Following fluctuation in the international market, pound resumed trading at Rs 87.70 as compared to Thursday's Rs 88.70. It shed a rupee in its value that attracted margin hunters to take new positions. It moved between Rs 87.70 and Rs 87.80 and was sold at Rs 88.10.

UAE dirham was bought and sold at Rs 14.75 and Rs 14.78, Saudi currency started the day at Rs 14.41 and sellers offered four paisa more at Rs 14.45.

Buying and selling rates of German mark remained Rs 27.25 and Rs 27.75 respectively.

Yen moved in a tight band with moderate turnover. It opened at Re 0.501 and was sold at Re 0.502.