THE RUPEE: little gains

Slight recovery was seen on the money market at the week-end as the rupee managed to gain modestly versus the dollar in the process of trading, dealers said. The rupee posted fresh gain of five-paisa in relation to the dollar for buying and selling at Rs 102.45 and Rs 102.65 respectively, they said.
OPEN MARKET RATES: The rupee, however, was down by 40-paisa in terms of the euro for buying and selling at Rs 111.00 and Rs 111.25, they said. At the week-end, data showing a seventh straight monthly decline in US business spending plans knocked the dollar lower and gave Federal Reserve policymakers even less reason to raise near-zero interest rates any time soon. The euro backed away from a two-week high against the dollar after euro zone finance ministers told Greece it will get no more aid until it strikes a full economic reform plan.

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Open Bid       Rs 102.45

Open Offer     Rs 102.65

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

RUPEE IN LAHORE: The rupee-dollar parity remained unchanged on the open currency markets of Lahore on Saturday.
The greenback opened at Rs 102.60 (buying) and Rs 102.90 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 102.60 and Rs 102.90 on the buying and selling counters, respectively. However, some of currency dealers quoted selling rate of the dollar as Rs 102.85.
On the other hand, the British pound improved its worth against the local currency. It was purchased and sold at Rs 154.70 and Rs 155.60 as against Rs 153.80 and Rs 155.00 on Friday.
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).
Copyright Business Recorder, 2015