The dollar managed to hold its command versus the dollar on the weekend on the local currency market, dealers said. The rupee lost 20 paisa against the dollar for buying and selling at Rs 107.40 and Rs 107.60 respectively, they added. The rupee, however, managed to recover more 25 paisa in terms of the euro for buying and selling at Rs 144.00 and Rs 144.25 respectively, they said.
OPEN MARKET RATES: At the weekend, the euro fell for a fifth day against the dollar, heading for its biggest weekly loss in 16 months, on growing expectations the European Central Bank will ease monetary policy further to protect growth. More losses are likely as traders said the single currency's climb in recent months was overdone. The euro hit a 23-month high above $1.38 last Friday, a gain of more than eight percent from early July.
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Open Bid Rs 107.40
Open Offer Rs 107.60
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Open Market Rates: Open Market Rates For Dollar on Saturday.
RUPEE IN LAHORE: The Pak rupee continued slide against the dollar on the local currency market on Saturday. According to the currency dealers, the national currency remained under pressure due to fresh demand of greenback, closing was seen at Rs 107.30 and Rs 107.55 for buying and selling, respectively.
However, the rupee maintained rising trend for the second day and was appreciated against the British pound. The pound's buying and selling rates were declined from the Friday's closing of Rs 170.80 and Rs 171.35 to Rs 170.20 and Rs 171.20, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Saturday. The dollar opened at Rs 106.60 for buying and Rs 106.70 for selling against last rate. It observed no change in the second session and closed at Rs 106.60 for buying and Rs 106.70 for selling. Pound Sterling opened at Rs 169 for buying and Rs 169.50 for selling against same last rate. It closed at the same rate without further change by the end of evening session.
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