THE RUPEE: falling trend

Easier trend was seen on the open market on Saturday as the rupee drifted lower marginally in terms of the greenback in process of trading, experts said. The rupee fell against the dollar, shedding 10 paisa for buying and selling at 96.30 and 96.50, they said.
OPEN MARKET RATES: The rupee, however, gained 30 paisa versus the euro for buying and selling at Rs 121.50 and Rs 122.50, they added. At the week-end, the euro dropped to a two-month low against the US dollar and could extend losses further as fears mount that the euro zone's debt crisis and deteriorating economic conditions could drag down global economic growth. The US dollar and the yen advanced, while the Australian dollar weakened, as investors shed growth-linked currencies in favour of safe havens.

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Open Buying     Rs 96.30

Open Selling    Rs 96.50

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RUPEE IN LAHORE: The Pak rupee lost its worth in relation to the greenback in the local currency markets on Saturday, dealers said.
According to the moneychangers, the dollar improved its worth following fresh buying activity. Because of buying support, the dollar was traded at Rs 96.35 and Rs 96.60 on buying and selling counters against previous closing rate of Rs 96.15 and Rs 96.50 on buying and selling sides, respectively.
On the other hand, the local currency recovered its earlier by improving its worth against the British pound. The pound's buying and selling rates were slide down from the day earlier closing of Rs 152.50 and Rs 153.50 to Rs 151.90 and Rs 152.50, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee remained unchanged against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 95 (buying) and Rs 95.60 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 95 (buying) and Rs 95.60 (selling).
Pound Sterling opened at Rs 151.90 (buying) and Rs 153 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 151.90 (buying) and Rs 153 (selling).
Copyright Business Recorder, 2012