THE RUPEE: steadier trend

The rupee held the overnight levels versus the dollar on the local currency market on Saturday in the process of trading, dealers said. The rupee showed no change for the third day in terms of the dollar for buying and selling at Rs 101.50 and Rs 101.70 respectively, they said.
OPEN MARKET RATES: The rupee gained sharply against the euro, picking up Rs 2.00 for buying and selling at Rs 114.60 and Rs 114.85 respectively, they said. At the week-end, the US dollar advanced against major currencies after data showed US jobs growth rose solidly and wages rebounded strongly in January, bolstering views that the Federal Reserve will hike interest rates by mid-year.
The US Labour Department said non-farm payrolls increased by 257,000 last month, beating economists' expectations for a rise of 234,000 jobs according to a Reuters poll, while data for November and December was revised to show a whopping 147,000 more jobs created than previously reported.

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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 rupee showed stability and stayed unchanged against the US dollar amid sluggish trade on the local currency market on Saturday.
According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 101.60 and Rs 101.85 as its buying and selling rate, respectively.
The dollar did not observe any change in its demand and supply situation during the day. As a result, the dollar's opening rate continued to prevail till close of trading, the dealers said.
On the contrary, the rupee failed to maintain its position and remained under pressure against the pound sterling.
The pound's buying and selling rate was improved from Friday closing of Rs 153.50 and Rs 153.75 to Rs 154.25 and Rs 154.50, 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 Friday.
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