THE RUPEE: falling trend

Bears dominated the money market on Saturday as all commercial centres reopened trading after closure of four-day holidays on account of Eidul Azha, dealers said. The rupee shed 10 paisa against the dollar for buying and selling at Rs 106.20 and Rs 106.30, they added.
OPEN MARKET RATES: The rupee also fell sharply by Rs 1.25 in terms of the euro for buying and selling at Rs 143.75 and Rs 144.00, they said. At the week-end, the dollar fell to eight-and-a-half-month lows against the euro and a currency basket on expectations the Federal Reserve will delay scaling back its monetary stimulus following this month's political battles over the US budget. Volume was thin as investors braced for a deluge of US economic data next week now that the US government was open following a two-week shutdown. The September non-farm payrolls report is due on Tuesday.

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Open Bid       Rs 106.20

Open Offer     Rs 106.40

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Open Market Rates: Open Market Rates For Dollar on Saturday.

RUPEE IN LAHORE: The national currency remained weak and was depreciated against both the major currencies; US dollar and pound sterling amid sluggish trading activity on the local currency market on Saturday.
According to the currency dealers, the dollar was opened on a healthy sign and kept on rising following fresh buying. The dollar was ended higher at Rs 106.25 and Rs 106.90 as its buying and selling rates against Rs 106.00 and Rs 106.25 of Monday, respectively.
Similarly, the Pak rupee remained under pressure and was declined against the pound sterling. The pound was purchased and sold at Rs 168.50 and Rs 170.00 compared with previous closing of Rs 166.00 and Rs 166.25, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 106.60 (buying) and selling Rs 106.70 (selling) against last rate. It observed no change in the second session and closed at Rs 106.60 (buying) and selling Rs 106.70 (selling).
Pound Sterling opened at Rs 169 (buying) and Rs 169.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.
Copyright Business Recorder, 2013