THE RUPEE: firm trend

The rupee managed to hold the overnight levels against the dollar on the local money market on Saturday, dealers said. The rupee sustained the overnight levels in terms of the greenback for buying and selling at Rs 101.70 and Rs 101.90 respectively, they said.
OPEN MARKET RATES: The rupee surrendered its gains versus the euro, losing 50-paisa for buying and selling at Rs 115.50 and Rs 115.75 respectively, they said. At the week-end, the euro gained against the US dollar after euro zone ministers agreed to extend Greece's financial rescue package by four months.
The agreement removed the immediate threat that Greece could run out of money next month and be forced out of the single currency area. The new leftist-led Athens government now can try to negotiate longer-term debt relief with official creditors.

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

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Bid Rate       Rs 101.70

Offer Rate     Rs 101.90

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RUPEE IN LAHORE: The Pak rupee continued weakness in relation to the greenback on the local currency market on Saturday.
According to the currency dealers, the dollar commenced trading at its day earlier closing of Rs 101.75 and Rs 102.00 on buying and selling side, respectively.
The dollar witnessed fresh demand during the day's trading that led its rate up at Rs 101.80 and Rs 102.05 on buying and selling counter, respectively, the dealers said.
However, the rupee recovered some of its earlier loss and was improved against the pound sterling. The pound was purchased and sold at Rs 156.20 and Rs 156.45 compared with Friday closing of Rs 156.25 and Rs 156.50, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained strength against the dollar on the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 100.75 (buying) and Rs 101 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 100.75 (buying) and Rs 101 (selling).
Pound Sterling opened at Rs 152 (buying) and Rs 153 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 152 (buying) and Rs 153 (selling).
Copyright Business Recorder, 2015