THE RUPEE: rates slip

The rupee surrendered it overnight gains against the dollar on the money market on Saturday, dealers said. The rupee lost 15 paisa in relation to the dollar for buying and selling at Rs 99.55 and Rs 99.75, they said. In contrast, the rupee picked up five paisa against the euro for buying at Rs 130.75 and Rs 131.00, they said.
OPEN MARKET RATES: At the week-end, the dollar briefly trimmed losses against the yen and rose versus the euro on Friday in choppy trading after a slightly better-than-expected US non-farm payrolls number last month.
The headline figure was 175,000 jobs, compared with a forecast of 170,000, but the unemployment rate edged higher to 7.6 percent. The dollar initially jumped above 96 yen after the data from about 95.68 yen, just before. It was last at 95.84, down 1.1 percent. The euro fell against the dollar after the data to around $1.3233, from $1.3268 before the data's release. It was last at $1.3242, flat on the day.

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Open Bid        Rs 99.55

Open Offer      Rs 99.75

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

RUPEE IN LAHORE: The dollar-rupee parity remained unchanged on the open currency markets of Lahore on Saturday.
The dollar resumed trading at Rs 99.40 for buying and Rs 99.70 for selling against the same last rate. The dollar witnessed some minor change during Saturday's trading but finally closed at Rs 99.40 and Rs 99.70 on buying and selling counters, respectively.
Likewise, the British pound-Pak rupee parity remained unchanged. The Pound Sterling was purchased and sold at Rs 153.70 and Rs 154.30 as against same rate on Friday.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed a recovery of 40 paisa against the dollar on the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 99.40 for buying and Rs 99.60 for selling against last rate of Rs 99.80 for buying and Rs 100 for selling. It did not observe further change in the second session, and closed at Rs 99.40 for buying and Rs 99.50 for selling in the second session. Pound Sterling opened at Rs 151.70 for buying and Rs 155 for selling against same last rate. It closed at the same rate without further change by the end of evening session.
Copyright Business Recorder, 2013