The rupee moved up against dollar slightly on the open market on Saturday in process of trading, experts said. The rupee gained slightly versus dollar for buying and selling at 94.65 and 94.85, they said. The rupee appreciated by Re 1 against euro for buying and selling at Rs 114.80 and Rs 115.80, they added.
OPEN MARKET RATES: At the weekend euro slumped broadly, setting a two-year low against dollar after Spain's Valencia region said it would seek central government help to repay its debts, raising concerns the euro zone's fourth-largest economy may be forced to seek a full-scale international bailout. A cut by the Spanish government of its economic growth forecasts for 2012 and 2013 also pressured euro. Spain's revised estimates indicated that the country would be mired in recession well into next year.
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Low Rate Rs 94.70
High Rate Rs 94.90
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RUPEE IN LAHORE: The Pak rupee maintained upward against the US dollar and the British pound in the local currency market on Saturday. The dollar was opened on a depressed note and remained under pressure in the absence of buying support. The dollar was ended at Rs 94.60 and Rs 94.85 on buying and selling sides against last day closing of Rs 94.80 and Rs 95.00, respectively, the dealers said.
Similarly, the rupee remained strong and was appreciated against the pound sterling. The pound was purchased and sold at Rs 147.40 and Rs 147.70 as compared to Friday closing of Rs 147.60 and Rs 148.20, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar on the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 94.25 (buying) and Rs 94.35 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 94.25 (buying) and Rs 94.35 (selling).
Pound Sterling opened at Rs 146 (buying) and Rs 146.5 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 146 (buying) and Rs 146.5 (selling).
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