THE RUPEE: steadier trend

The rupee was firm against the dollar for the second session due to comfortable supply of the US currency, dealers said on the money market on Saturday. The rupee managed to hold the present levels for the second day in relation to the dollar for buying and selling at Rs 101.20 and Rs 101.40 respectively, they said.
OPEN MARKET RATES: The rupee also maintained overnight levels against the euro for buying and selling at Rs 125.75 and Rs 126.00, they said. At the week-end, the US dollar cut its losses against the euro, extended gains against the yen and reached an 11-year high against the Norwegian crown on plunging oil prices and stronger-than-expected US economic data on Friday. Oil prices fell to 5-1/2 year lows on concerns of a global glut, dampening inflation expectations. However, lower energy costs also increase the cash consumers have to spend heading into year-end holidays.

========================

Open Bid       Rs 101.20

Open Offer     Rs 101.40

========================

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

RUPEE IN LAHORE: The Pak rupee maintained upward trend in relation to the greenback on the local currency market on Saturday.
According to the currency dealers, the dollar was opened on a depressed note and remained under pressure due to lacking buying support. At close of trading, the dollar was ended further lower at Rs 101.20 and Rs 101.45 as it's buying and selling rate against Rs 101.30 and Rs 101.55 of Friday, respectively, the dealers said.
On the contrary, the rupee remained under pressure and was depreciated against the British pound. The pound's buying and selling rates were improved from overnight closing of Rs 158.50 and Rs 158.75 to Rs 158.75 and Rs 159.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 101.30 (buying) and Rs 101.40 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101.30 (buying) and Rs 101.40 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 159 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 159 (selling).
Copyright Business Recorder, 2014