THE RUPEE: dollar stays put

The rupee retained overnight levels against dollar on the open market on Saturday in process of trading, dealers said. The rupee managed to retain its levels in relation to dollar for buying and selling at 90.80 and 91.00, they said.
OPEN MARKET RATES: The rupee gained 13 paisa versus euro for buying at Rs 119.17 and and it rose by 63 paisa for selling at Rs 119.67, they said. At the weekend euro gained against dollar and yen on hopes for a rescue package for Greece but gains were capped before a key meeting on Monday with investors hesitant to make big bets before a long US holiday weekend. Greece edged closer to winning the 130-billion-euros rescue as officials said Germany was optimistic a deal could be struck despite misgivings that Athens would stick to commitments.

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Open Buying     Rs 90.80

Open Selling    Rs 91.00

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RUPEE IN LAHORE: The Pak rupee remained under pressure and was depreciated against the major currencies like greenback and pound sterling in the local currency market on Saturday.
According to the currency dealers, the dollar after improving by 15-paisa on buying side and 5-paisa and was ended at Rs 91.05 and Rs 91.30 against the overnight closing of Rs.90.90 and Rs.91.25 on buying and selling sides, respectively.
Similarly, the rupee maintained downward slide and is declined against the pound sterling. The pound's buying and selling rates are further improved by Rs.143.30 and Rs.144.00 as compared to Friday closing of Rs.143.10 and Rs.143.70, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 91 (buying) and Rs 91.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 91 (buying) and Rs 91.20 (selling).
Pound Sterling opened at Rs 142 (buying) and Rs 142.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 142 (buying) and Rs 142.50 (selling).
Copyright Business Recorder, 2012