THE RUPEE: firm trend

The rupee managed to sustain its overnight levels against the dollar on the local currency market on Saturday, dealers said. The rupee held the overnight levels against the dollar for buying and selling at Rs 102.90 and Rs 103.10 respectively. The rupee continued its decline versus the dollar losing 40-paisa in relation to the euro for buying and selling at Rs 130.25 and Rs 130.65 respectively, they said.
OPEN MARKET RATES: At the week-end, the euro rose ahead of an official report on the health of the euro zone's main banks as investors continued a trend of covering their short-positions leading to buying of the currency against the US dollar. Despite Friday's weakness, the dollar is on track to close the week with a gain. Concerns about the first diagnosed case of Ebola in New York City, which stifled the dollar's rally late Thursday, have waned, strategists said.

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Open Bid       Rs 102.90

Open Offer     Rs 103.10

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

RUPEE IN LAHORE: The Pak rupee remained under pressure for the second day and lost 15-paisa in relation to the greenback on the local currency market on Saturday.
According to the currency dealers, the dollar was opened on a healthy note and kept on rising following buyers' interest. At close of trading, the dollar was ended higher at Rs 103.00 and Rs 103.25 as its buying and selling rate against Rs 102.85 and Rs 103.10 of Friday, respectively, the dealers said.
Similarly, the rupee remained weak and was depreciated against the pound sterling. The pound's buying and selling rates were improved from the overnight closing of Rs 164.50 and Rs 164.75 to Rs 165.50 and Rs 165.75, 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 103 (buying) and Rs 103.10 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 103 (buying) and Rs 103.10 (selling).
Pound Sterling opened at Rs 164 (buying) and Rs 164.10 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 164 (buying) and Rs 164.10 (selling).
Copyright Business Recorder, 2014