THE RUPEE: modest slide

An easier trend prevailed on the money market on Saturday as the rupee could not retain its firmness versus the dollar, dealers said. The rupee lost 10-paisa in terms of dollar for buying and selling at Rs 101.50 and Rs 101.70 respectively, they said.
OPEN MARKET RATES: The rupee, however, recovered 50-paisa in terms of the euro for buying and selling at Rs 114.50 and Rs 114.75, they said.
At the week-end, the dollar traded mixed after weaker-than-expected headline US fourth-quarter gross domestic product data, which included the fastest pace of consumer spending since 2006 and left intact market expectations of long-term greenback gains.US economic activity in the fourth quarter rose 2.6 percent, below economists' consensus forecast of 3 percent and nearly half of the third quarter's 5 percent rate. While the US Federal Reserve is still expected to begin raising interest rates later this year, the contrast with loosening monetary policies elsewhere in the world is becoming even more stark.

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Open Bid       Rs 101.50

Open Offer     Rs 101.70

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

RUPEE IN LAHORE: The Pak rupee failed to continue upward move and lost 15-paisa against the US dollar on the local currency market on Saturday.
According to the currency dealers, the dollar commenced trading on a healthy note and kept on rising following fresh buying. At close of trading, the dollar was ended higher at Rs 101.65 and Rs 101.90 on buying and selling side against Rs 101.50 and Rs 101.75 of Friday, respectively, the dealers said.
Similarly, the rupee remained weak and was depreciated against the British pound. The pound's buying and selling was marginally improved to Rs 152.55 and Rs 152.80 compared with day earlier closing of Rs 152.50 and Rs 152.75, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained strength against the dollar on the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 100.75 (buying) and Rs 101 (selling) against last rate of Rs 101 (buying) and Rs 101.25 (selling). It did not observe further change in the second session and closed at Rs 100.75 (buying) and Rs 101 (selling).
Pound Sterling opened at Rs 152 (buying) and Rs 153 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 152 (buying) and Rs 153 (selling).
Copyright Business Recorder, 2015