THE RUPEE: stable trend

Stability prevailed on the money market on Saturday as the rupee held the overnight levels versus the dollar in the process of trading, dealers said. The rupee maintained last levels versus the dollar for buying and selling at Rs 104.30 and Rs 104.50 respectively, they said.
OPEN MARKET RATES: The rupee, however, appreciated by Rs 1.70 in terms of the euro for buying and selling at Rs 116.50 and Rs 117.50, they added. At the week-end, the dollar rebounded from a three-week low, a day after the Federal Reserve kept US interest rates on hold, in a late technical rally after a steep sell-off the previous session.
The Fed decision largely disappointed investors who wanted to get the process of normalizing rates going even at a gradual pace. It was largely expected though. However, it was the Fed's dovish message, specifically the uncertain global growth outlook that could weigh on the world's largest economy that took the market by surprise.

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

Open Bid       Rs 104.30

Open Offer     Rs 104.50

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

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

RUPEE IN LAHORE: The local currency improved its worth against the dollar and the pound sterling at the open currency markets of Lahore on Saturday.
Currency dealers said the dollar resumed trading at Rs 104.45 and Rs 104.60 on the buying and selling counters, respectively, against same overnight rate. In the absence of fresh buying activity, the greenback closed lower at Rs 104.40 and Rs 104.55 on the buying and selling sides, respectively.
Moreover, the pound sterling was purchased and sold at Rs 160.20 and Rs 160.70 as against Rs 161.40 and Rs 161.70 on Friday, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee on the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 104 (buying) and Rs 104.25 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 104 (buying) and Rs 104.25 (selling).
Pound Sterling opened at Rs 161 (buying) and Rs 161.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 161 (buying) and Rs 161.50 (selling).
Copyright Business Recorder, 2015