THE RUPEE: rate falls

The rupee gave up overnight gains against the dollar on the money market on Saturday in the process of trading, dealers said. The rupee could not maintain overnight gains in relation to the dollar, losing five-paisa for buying and selling at Rs 104.40 and Rs 104.60, respectively they said. The rupee in terms of the euro performed on the same pattern, falling 20-paisa for buying and selling at Rs 118.10 and Rs 119.10, they added.
OPEN MARKET RATES: At the weekend, the dollar rose broadly, as traders reckoned the Federal Reserve might raise interest rates later this year and the European Central Bank may provide more stimulus to help the euro zone economy. The dollar index, which measures the greenback against six major currencies, climbed for the second day from a seven-week low after news that annual US core inflation picked up more than forecast in September to two percent.

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Open Bid       Rs 104.40

Open Offer     Rs 104.60

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

RUPEE IN LAHORE: The Pak rupee-dollar parity remained unchanged amid sluggish trading trend on the local currency market on Saturday.
The dollar commenced trading at its Friday closing of Rs 104.45 and Rs 104.70 on buying and selling side, respectively. The dollar did not observe any change in its demand and supply situation. As a result, the dollar's opening rates continued to prevail till close of trading, the dealers said.
However, the rupee staged recovery and registered gain against the pound sterling. The pound's buying and selling rate declined from the overnight closing of Rs 160.50 and Rs 161.20 to Rs 160.25 and Rs 160.95, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 104 (buying) and Rs 104.25 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 104 (buying) and Rs 104.25 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).
Copyright Business Recorder, 2015