Firmness prevailed on the money market at the week-end, dealers said Saturday. The rupee held the overnight levels in terms of the dollar for buying and selling at Rs 102.50 and Rs 102.70, they said. The rupee gained 25 paisa against the euro for buying and selling at Rs 128.75 and Rs 129.00, they added.
OPEN MARKET RATES: In New York, the dollar firmed for a second straight session after three consecutive days of losses, bolstered by safe-haven bids on worries about the health of the global economy with slow-downs evident in Europe, Japan, and China. "Dollar strength is still on the table here going forward and the driver behind that is policy divergence," said Andrew Dilz, currency strategist at Tempus Consulting in Washington.
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Open Bid Rs 102.50
Open Offer Rs 102.70
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Open Market Rates: Open Market Rates For Dollar on Saturday.
RUPEE IN LAHORE: The Pak rupee remained under pressure against the US dollar and British pound on the local currency market on Saturday.
According to the currency dealers, the dollar was opened on a healthy note and was further improved following buyers' interest. At close of trading, the dollar was ended at Rs 102.60 and Rs 102.85 as its buying and selling rate against Rs 102.35 and Rs 102.60 of Friday, respectively, the dealers said.
Likewise, the rupee maintained downward trend for another day and lost its worth against the pound sterling. The pound was traded at Rs 164.60 and Rs 164.85 on buying and selling counter compared with day earlier closing of Rs 164.50 and Rs 164.75, 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 101 (buying) and Rs 101.10 (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 the dollar.
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).
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