THE RUPEE: steadier trend

Steadier trend was again witnessed on the money market on Saturday, as the rupee showed no change in terms of the dollar in the process of trading, dealers said. The rupee depicted no variation in relation to the dollar for buying and selling at Rs 104.40 and Rs 104.60 respectively, however it shed 20-paisa versus the euro for buying and selling at Rs 117.80 and Rs 118.80, they added.
OPEN MARKET RATES: At the weekend, the US dollar hit multi-week lows against the euro and Swiss franc, the day after minutes from the Federal Reserve's September meeting bolstered expectations for a later interest rate hike, while growth-linked currencies surged. The dollar index, which measures the greenback against a basket of six major currencies, was set for its second straight week of losses after the minutes focused on external factors depressing the outlook for inflation.

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Open Bid       Rs 104.40

Open Offer     Rs 104.60

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

RUPEE IN LAHORE: The local currency appreciated its worth in relation to the greenback and British pound at the open currency markets of Lahore on Saturday.
Currency dealers said the dollar resumed trading at Rs 104.65 and Rs 104.95 on buying and selling counters, respectively, as against Rs 104.55 and Rs 104.90 on Friday. At the close, the dollar lost its worth and was closed at Rs 104.55 and Rs 104.80 on buying and selling counters, respectively.
On the other hand, the British Pound depreciated its worth against the local currency, which was purchased and sold at Rs 158.60 and Rs 159.20 as against Friday's closing rates of Rs 159.10 and Rs 159.90, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at 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 158 (buying) and Rs 158.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).
Copyright Business Recorder, 2015