THE RUPEE: mixed patterns

Rupee-dollar parity rates slipped on the local currency market at the week-end ahead of long holidays in observance of Ashura, dealers said. The rupee fell slightly versus the dollar, losing five paisa for buying and selling Rs 102.85 and Rs 103.00, they said. The rupee, however, gained 25 paisa against the euro for buying and selling at Rs 129.00 and Rs 129.25, they said.
OPEN MARKET RATES: At the week-end, the yen plunged to a near seven-year low against the US dollar on Friday, putting it on track for its worst day in 18 months, after the Bank of Japan shocked financial markets with an aggressive easing of its monetary policy. In addition to the BoJ's decision to expand its already massive monetary stimulus plan, an announcement by the country's government pension fund that it would increase its holdings of foreign and domestic shares added to yen selling. Japan is aiming to reverse decades of deflation and subpar growth.

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Open Bid       Rs 102.85

Open Offer     Rs 103.05

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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 marginally declined by five-paisa in relation to the greenback on the local currency market on Saturday.
According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 102.90 and Rs 103.15 as its buying and selling rates, respectively. However, following a slight increase in the dollar's demand, its rate was moved up to Rs 102.95 and Rs 103.20 on buying and selling side, respectively, the dealers said.
Likewise, the rupee remained weak and was depreciated against the pound sterling. The pound's buying and selling rates were improved from Friday closing of Rs 164.00 and Rs 164.25 to Rs 164.60 and Rs 164.85, 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 103 for buying and Rs 103.10 for selling against same overnight rate. It did not observe further change in the second session and closed at Rs 103 for buying and Rs 103.10 for selling.
ound Sterling opened at Rs 164 for buying and Rs 164.10 for selling against same overnight value. It did not observe further change in the evening session and closed at Rs 164 for buying and Rs 164.10 for selling.
Copyright Business Recorder, 2014