Downward trend was seen on the open market on Saturday in process of lean business activity, dealers said. The rupee shed five-paisa against the dollar for buying and selling at 94.7 and 94.9, they said. The rupee, also inched down by 10-paisa in terms of the euro for buying and selling at Rs 122.3 and Rs 123.3, they added.
OPEN MARKET RATES: At the week-end, the euro climbed against the US dollar, reversing earlier losses, helped by speculation Spain may soon request financial aid to help ease the country's debt crisis.
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Open Buying Rs 94.70
Open Selling Rs 94.90
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RUPEE IN LAHORE: The Pak rupee showed strength and gained five-paisa on buying side and 10-paisa on selling side in relation to the greenback on the local currency market on Saturday. According to the currency dealers, the dollar could not sustain and remained under pressure in the absence of buying support. The dollar was closed at Rs 94.7 and Rs 94.9 against the Thursday closing of Rs 94.75 and Rs 95 on buying and selling side, respectively.
However, the rupee remained weak and lost 20-paisa on buying side while it gained 30-paisa on selling side against the British pound. The pound was traded at Rs 152.9 and Rs 153.2 as compared to previous closing of Rs 152.7 and Rs 153.5, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Saturday. The dollar opened at Rs 94.2 (buying) and Rs 94.3 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 94.2 (buying) and Rs 94.3 (selling). Pound Sterling opened at Rs 146 (buying) and Rs 146.5 (selling) against same previous rate. 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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