THE RUPEE: dollar up

The dollar appreciated against the rupee on the money market on Saturday amid rising demand for the US currency, dealers said. The rupee lost 10 paisa versus the greenback for buying and selling at 99.80 and 100.00, they said. In contrast, the domestic currency gained 25 paisa in terms of the euro for buying and selling at Rs 128.75 and Rs 129.00, they said.
OPEN MARKET RATES: At the week-end, the dollar was headed for its worst week against the yen in nearly two years, extending the prior session's sell-off, as volatility in Japan's stock market spurred investors to book profits on their bets against the Japanese currency. Aggressive monetary easing by the Bank of Japan has driven the US currency up 16 percent so far this year to a 4-1/2-year high, with analysts expecting further gains. The euro has gained 14 percent this year.

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Open Bid        Rs 99.70

Open Offer      Rs 99.90

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Open Market Rate: Open Market Rate For Dollar on Saturday.

RUPEE IN LAHORE: The rupee was firm on the buying side while it shed 10-paisa on selling side in relation to the greenback on the local currency market on Saturday. According to the currency dealers, the dollar commenced trading at its Friday closing of Rs 99.80 and Rs 100.00 on buying and selling counters, respectively. The dollar's buying rate remained unchanged at Rs 99.80 whereas its selling rate was improved from Rs 100.00 to Rs 100.10.
Similarly, the rupee observed no change on buying side while it was appreciated on selling side against the pound sterling. The pound was purchased at Rs 150.50 and Rs 151.00 against the last day closing of Rs 150.50 and Rs 150.75, 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 opened at Rs 99.80 for buying and Rs 100 for selling against last rate. It did not observe further change in the second session. It closed at Rs 99.80 for buying and Rs 100 for selling by the end of evening session. Pound Sterling opened at Rs 154 for buying and Rs 155 for selling against same last rate. It closed at the same rate without further fluctuation by the end of second session.
Copyright Business Recorder, 2013