THE RUPEE: steadier trend

The rupee maintained firm posture against the dollar on the open market on Saturday in the process of trading, dealers said. The rupee for the third day in a row held its overnight levels against the dollar for buying and selling at 99.00 and 99.25, they said. The national currency was also firm versus the euro for buying and selling at Rs 132.50 and Rs 132.75, they added.
OPEN MARKET RATES: At the week-end, the yen fell on Friday after three days of gains against the US dollar and the euro as a draft statement from the Group of 20 nations did not single out Japan for undertaking policies that have weakened its currency. That was a signal for investors to keep selling the yen, which has already fallen more than seven percent this year versus the dollar following losses of 11.3 percent in 2012.

Open market Rates: Open Market Rates For Dollar on Saturday.

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Bid Rate        Rs 99.00

Offer Rate      Rs 99.25

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RUPEE IN LAHORE: The Pak rupee regained some of its earlier loss and was improved by five-paisa in relation to the greenback on the local currency market on Saturday.
According to the currency dealers, the dollar commenced trading at its overnight closing of Rs 99.45 and Rs 99.70 as its buying and selling rates, respectively. In the absence of buyers' interest, the dollar was marginally declined to Rs 99.40 and Rs 99.65 on buying and selling side, respectively.
However, the Pak rupee-pound sterling parity remained unchanged amid low trading activity. The pound was traded at its Friday closing of Rs 154.70 and Rs 155.50 on buying and selling counters, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee on the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 99.80 for buying and Rs 99.90 for selling against last rate of Rs 99 for buying and Rs 99.10 for selling against the same last rate. The buying and selling rates touched Rs 100 during day's trading and finally closed at Rs 99.80 for buying and Rs 99.90 for selling respectively.
Pound Sterling opened at Rs 154 for buying and Rs 155 for selling against the same overnight value. It did not observe further change in the last trading hours and closed at Rs 154 for buying and Rs 155 for selling respectively.
Copyright Business Recorder, 2013