THE RUPEE: mixed trend

The rupee weakened against the dollar, however, it inched up versus the euro on the currency market on Saturday, dealers said. The rupee fell by 10 paisa against the dollar for buying at Rs 106.50 and five paisa for selling at Rs 106.70, they added. The rupee, however, made little gain in relation to the euro for buying and selling at Rs 145.20 and Rs 145.45, they said.
OPEN MARKET RATES: At the weekend, the euro rose against the dollar hovering close to a two-year high, as souring German business morale did little to dent bullish sentiment toward the euro zone common currency.
German Ifo business sentiment data fell unexpectedly for the first time in six months, sparking concern about the impact of a stronger euro on the region's exporters. That followed sub-forecast euro zone private sector activity surveys on Thursday, suggesting that recovery in the euro zone has stalled.

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Open Bid      Rs 106.40

Open Offer    Rs 106.65

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RUPEE IN LAHORE: The Pak rupee stayed unchanged on buying side at Rs 106.20, while it was declined by 15-paisa on selling side at Rs 106.60 in relation to the greenback on the local currency market on Saturday.
According to the currency dealers, the dollar resumed trading at its overnight closing of Rs 106.20 and Rs 106.45 as its buying and selling rates, respectively. The dollar observed no change in its buying rate that remained unchanged at Rs 106.20 while its selling rate was moved up to Rs 106.60, the dealers said.
However, the rupee remained depressed and was depreciated against the pound sterling. The pound's buying and selling rates were improved from Rs 169.50 and Rs 170.25 of Friday to Rs 170.00 and Rs 171.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi, here on Saturday.
The dollar opened at Rs 106.60 (buying) and selling Rs 106.70 (selling) against last rate. It observed no change in the second session and closed at Rs 106.60 (buying) and selling Rs 106.70 (selling). Pound sterling opened at Rs 169 (buying) and Rs 169.50 (selling) against same last rate. It closed at the same rate.
Copyright Business Recorder, 2013