Firmness prevailed on the currency market on Saturday as the rupee strengthened versus dollar and euro, dealers said. On the inter-bank market, the rupee rose by 50 paisa in relation to the US currency for buying and selling at 70.50 and 70.60, they said. The rupee managed to recover its lost ground versus dollar due to hopes for easy supply of the US currency in the coming days, they added.
During the final session in the NY market, dollar rose, heading for its largest weekly gain versus euro in a month, after a smaller-than-expected quarterly loss from Citigroup Inc eased worries about the US financial sector. Citi's results added to positive earnings news this week from Wells Fargo & Co. and J.P. Morgan Chase & Co. That allowed the dollar to regain some strength after slumping to a record low against euro on Tuesday.
OPEN MARKET RATES: The rupee also headed forward with sharp gain against dollar, rising 1.10 for buying at 70.80 and 71.30 for selling, they said. The rupee recovered in terms of euro, gaining 1.60 for buying and selling at Rs 111.30 and Rs 111.50, dealers said.
================================
Open Buying Rs 70.80
Open Selling Rs 71.30
================================
Interbank Closing Rates: Interbank Closing Rates For Dollar On Saturday.
==============================
Buying Rs 70.50
Selling Rs 70.60
==============================
RUPEE IN LAHORE: The rupee-dollar parity remained unchanged at Lahore currency market on Saturday. The dollar was traded at the overnight closing levels of Rs 71.50 and Rs 72.50 as its buying and selling rates. The pound buying and selling rates improved from Friday's closing of Rs 141.00 and Rs 142.00 to Rs 141.50 and Rs 142.50.
Comments
Comments are closed.