The rupee firmly held the overnight levels against the dollar on the currency market on Saturday, dealers said. In an effort to bring stability on economic front, the State Bank of Pakistan (SBP) has kept the policy rate unchanged at 10 percent, as almost all major economic indicators have moved in desired direction over the past few months.
OPEN MARKET RATES: The national currency did not move any side in relation to the dollar for buying and selling at Rs 100.20 and Rs 100.50 respectively, however, it gained Rs 1.15 versus the euro for buying and selling at Rs 138.50 and Rs 138.75 respectively, they said.
At the week-end, the yen poised for its biggest weekly gains in more than a month against the euro and dollar, as traders flocked to it on growing tension in Ukraine and fears about the health of the Chinese economy. The euro was also under pressure since hitting a 2-1/2 year high versus the greenback earlier this week in the wake of comments from European Central Bank President Mario Draghi who raised concerns about the strength of the common currency.
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Open Bid Rs 100.20
Open Offer Rs 100.50
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Open market rates: Open market rates For Dollar on Saturday.
RUPEE IN LAHORE: The national currency remained under pressure as it lost 10-paisa on buying side at Rs 100.50 but gained Rs 1.50 at Rs 102.00 on selling side in relation to the greenback on the local currency market on Saturday.
According to the currency dealers, the dollar resumed trading on a mixed note and registered marginal gain to close at Rs 100.50 on buying counter against Rs 100.40 of Friday. However, it was slide down from previous closing of Rs 103.50 to Rs 102.00 on selling counter, the dealers said.
The Pak rupee showed stability and remained unchanged on buying side while it was appreciated on selling side against the British pound. The pound was purchased and sold at Rs 168.50 and Rs 170.00, compared with last day closing of Rs 168.50 and Rs 171.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 100 (buying) and Rs 100.10 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 100 (buying) and Rs 100.10 (selling).
Pound Sterling opened at Rs 165 (buying) and Rs 165.50 (selling) against same last rate. It closed at the same rate without further change by the end of evening session.
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