THE RUPEE: minor change

Little change was witnessed on the money market at the week-end as the rupee fell slightly versus the dollar in the process of trading, dealers said.
OPEN MARKET RATES: The rupee shed five-paisa against the dollar for buying and selling at Rs 102.35 and Rs 102.55, but managed to sustain its levels against the euro for buying and selling at Rs 132.50 and Rs 132.75, they said.
At the week-end, the dollar index posted its ninth consecutive week of gains and the US currency rose to six-year highs against the yen on speculation that the Federal Reserve may strike a more hawkish tone when it meets next week.
A recent string of improving economic data has raised expectations that the Fed may act sooner to raise interest rates, a move most investors expect will begin next year.

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Open Bid       Rs 102.35

Open Offer     Rs 102.55

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

RUPEE IN LAHORE: The Pak rupee remained under pressure and was further depreciated by 25-paisa in relation to the greenback on the local currency market on Saturday.
According to the currency dealers, the dollar's demand continued for another day that helped its appreciation in the open market. The dollar was closed at Rs 102.50 and Rs 102.75 on buying and selling side against Rs 102.25 and Rs 102.50 of Friday. Respectively, the dealers said.
Similarly, the rupee remained weak and was declined against the pound sterling. The pound's buying and selling rates were improved from overnight closing of Rs 164.90 and Rs 165.15 to Rs 166.25 and Rs 166.50, respectively, 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 101 for buying and Rs 101.10 for selling against same overnight rate. It did not observe further change in the second session and closed at Rs 101 (buying) and Rs 101.10 (selling) against.
Pound Sterling opened at Rs 168 (buying) and Rs 168.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 168 (buying) and Rs 168.10 (selling).
Copyright Business Recorder, 2014