The rupee managed to gain slightly on the money market on Saturday in the process of trading, dealers said. The rupee recovered 10-paisa versus the dollar for buying and selling at Rs 98.70 and Rs 98.80 respectively, while it maintained overnight levels in terms of the euro for buying and selling at Rs 131.75 and Rs 132.00, they said.
OPEN MARKET RATES: At the week-end, the US dollar hit a one-week low against a basket of major currencies on Friday after escalating geopolitical tensions led traders to take profits on the greenback after its recent strength. The United States launched its first air strike against Iraq since American troops withdrew from the country in 2011. Fighting has also resumed in Gaza between Palestinian militants and Israel, while the conflict between Russia and Ukraine remained on investors' radar.
Open Market Rates: Open Market Rates For Dollar on Saturday.
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Open Bid Rs 98.70
Open Offer Rs 98.80
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RUPEE IN LAHORE: The Pak rupee remained weak and was declined by 10-paisa against the US dollar on the local currency market on Saturday.
According to the currency dealers, the dollar was opened on a healthy note and registered gain following fresh buying. The dollar was ended higher at Rs 98.85 and Rs 99.10 against Rs 98.75 and Rs 99.00 of Friday, respectively, the dealers said.
Similarly, the national currency showed mixed trend against the British pound. The pound was marginally improved from overnight closing of Rs 165.70 to Rs 165.75 on buying counter while its selling rate was decreased from Rs 166.70 to Rs 166.00 on selling counter, they added.
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 98.50 (buying) and Rs 98.60 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 98.50 (buying) and Rs 98.60 (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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