The rupee managed to recover modest ground against the dollar on the money market on Saturday in the process of trading, dealer said. The rupee gained 10 paisas in terms of the dollar for buying and selling at Rs 105.00 and Rs 105.20 respectively, they said. The rupee picked up 80 paisas further against the euro for buying and selling at Rs 115.70 and Rs 117.00 respectively, they added.
OPEN MARKET RATES: At the week-end, sterling edged off lows against the US dollar, recovering slightly from a 10 percent plunge to its weakest in 31 years following Britain's vote to leave the European Union, on reassuring statements from central banks. Sterling was last down 8.1 percent against the dollar, at $1.3662, after touching its weakest since before the 1985 Plaza Accord of $1.3228.
Traders said Bank of England chief Mark Carney's comments that the central bank stood ready to provide extra support helped sterling recover. Despite the smaller losses, the currency was on track to post a 4.9 percent decline for the week against the dollar, which would mark its biggest weekly loss since January 2009. Sterling had touched $1.5018, its highest since mid-December, in Asian trading ahead of the result after polling firm YouGov said the campaign to keep Britain in the EU appeared to be ahead.
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Open Bid Rs 105.00
Open Offer Rs 105.20
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RUPEE IN LAHORE: The rupee appreciated its worth on buying side while it remained unchanged on selling side in relation to the US dollar on the local currency markets on Saturday.
The dollar resumed trading at its overnight closing of Rs 105.30 and Rs 105.55 as its buying and selling rates, respectively. The dollar could not sustain and further declined to Rs 105.10 on buying counter while its selling rate witnessed no change and closed at Rs 105.55, the currency dealers said.
Moreover, the rupee remained strong and improved its strength on buying side though it registered a huge loss on selling side against the British pound. The pound was bought and sold at Rs 142.30 and Rs 148.60 on buying and selling counter as compared with the Friday's closing of Rs 142.60 and Rs 143.60, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 10 paisa against the dollar at local currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar resumed trading at Rs 105.50 (buying) and Rs 106 (selling) against last rate of 105.60 (buying) and Rs 106.10 (selling). It did not observe further change in the last trading hours and closed at Rs 105.50 (buying) and Rs 106 (selling).
Pound Sterling opened at Rs 151.60 (buying) and Rs 152 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 151.60 (buying) and Rs 152 (selling).
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