Firmness prevailed on the money market at the week-end as the rupee held the overnight levels in the process of trading, dealers said. The rupee managed to hold the overnight levels against the dollar for buying and selling at 99.75 and 99.95, they said. While, the national currency maintained rising trend versus the euro, picking up 10 paisa for buying and selling at Rs 128.05 and Rs 128.30, they said.
OPEN MARKET RATES: At the week-end, the dollar rallied across the board on Friday, topping the 103-yen level as it hit a 4-1/2-year high against the Japanese currency, after data showing a robust rebound in US consumer sentiment prompted investors to add to bullish bets. Speculation that the Federal Reserve would wind down its asset-buying programme this year gathered pace, helping push the dollar upward against a basket of currencies to a near three-year peak.
Open Market Rate: Open Market Rate For Dollar on Saturday.
========================
Open Bid Rs 99.75
Open Offer Rs 99.95
========================
RUPEE IN LAHORE: No major changes were seen on the local currency market on Saturday in process of trading, dealers said.
According to the currency dealers, the Pak rupee lost five-paisa on buying side (Rs 99.85) while it stayed unchanged on selling side (Rs 100.00) against the US dollar, they said.
The dollar observed no visible change in its rate during the day. However, on close of trading, it was ended at Rs 99.85 and Rs 100.00 on buying and selling counters, respectively. The national currency showed strength and was appreciated against the British pound. The pound's buying and selling rates were declined from last day closing of Rs 151.75 and Rs 152.00 to Rs 151.50 and Rs 151.75, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar showed an improvement of 60 paisa against the rupee on the open currency markets of Islamabad and Rawalpindi here on Saturday. The dollar opened at Rs 99.80 (buying) and Rs 100 (selling) against Rs 99.20 (buying) and Rs 99.40 (selling). It closed on same rate of Rs 99.80 (buying) and Rs 100 (selling) by the end of evening session. Pound Sterling opened at Rs 154 (buying) and Rs 155 (selling) against same last rate. It closed at the same rate without further fluctuation by the end of second session.
Comments
Comments are closed.