The rupee managed to hold the overnight levels against the dollar for the third day on the local currency market on Saturday, dealers said. The rupee did not show any change in the overnight levels in relation to the dollar for buying and selling at Rs 101.80 and Rs 102.00 respectively, while the rupee managed to gain sharply by Rs 1.25 versus the euro for buying and selling at Rs 110.50 and Rs 110.75 respectively, they said.
OPEN MARKET RATES: At the week-end, the dollar jumped to an 11-1/2 year high against a basket of currencies as news of robust US employment growth bolstered market sentiment that the Federal Reserve was closer to raising interest rates. Before a US employment report on Friday, the dollar had already hit an 11-1/2 year high against the euro as interest rate differentials between America and Europe widened in favour of US Treasuries.
The euro was last at $1.0857 against the dollar, off 1.55 percent for the day. It slipped below $1.10 on Thursday, when the European Central Bank set a Monday start for a 1.1 trillion bond-buying programme meant to lower eurozone interest rates.
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Open Bid Rs 101.80
Open Offer Rs 102.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Saturday.
RUPEE IN LAHORE: The Pak rupee failed to maintain rising trend and lost 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 Friday closing of Rs 101.85 and Rs 102.10 as its buying and selling rate, respectively. As a result of a slight increase in the dollar's demand, its rate ended higher at Rs 101.90 and Rs 102.15 on buying and selling side, respectively.
On the contrary, the rupee staged recovery and appreciated its worth against the British pound. The pound's buying and selling rate was declined from the overnight closing of Rs 154.80 and Rs 155.05 to Rs 152.75 and Rs 153.00, respectively, the dealers 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 101.75 (buying) and Rs 101.85 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 101.75 (buying) and Rs 101.85 (selling).
Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 155 (buying) and Rs 155.50 (selling).
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