Firmness prevailed on the currency market on Saturday as the rupee held overnight level in process of trading, dealers said. The rupee was unchanged against the dollar for buying and selling at 97.70 and 97.90, they said. The rupee also shed 20 paisa in relation to the euro for buying at Rs 128.50 and Rs 129.50, they said.
OPEN MARKET RATES: At the weekend, the US dollar edged up to a two-week high against major currencies as investors waited to see if US politicians can strike a last-minute budget deal to avert tax hikes and spending cuts next year. President Barack Obama and Democratic and Republican lawmakers were scheduled to meet on at 3pm EST (2000 GMT) as the year-end deadline approaches. Members of both parties were divided on the odds of success.
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Open Buying Rs.97.70
Open Selling Rs.97.90
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RUPEE IN LAHORE: The Pak rupee showed stability and remained unchanged on buying side at Rs 97.80 while it was appreciated by 10-paisa on selling side at Rs 98.00 against the US dollar on the local currency market on Saturday.
According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 97.80 and Rs 98.10 as its buying and selling rates, respectively. The dollar amid low trading activity was closed at Rs 97.80 and Rs 98.00 on buying and selling counters, respectively. The Pak rupee-pound sterling parity stayed unchanged amid sluggish trading trend. The pound was purchased and sold at its Friday closing of Rs 157.00 and Rs 158.00, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar resumed trading at Rs 98.50 for buying and Rs 98.60 for selling against the same last rate. It did not observe further change in the evening session and closed at Rs 98.50 for buying and Rs 98.60 for selling. Pound Sterling opened at Rs 158.50 for buying and Rs 158.60 for selling against same last rate. It did not observe further change in the second session and closed at Rs 158.50 for buying and Rs 158.60 for selling.
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