Firmness prevailed on the money market on Saturday as the rupee managed to hold the overnight levels in relation to the dollar in process of activity, dealers said. The rupee depicted no change in terms of the dollar for buying and selling at Rs 106.00 and Rs 106.30 respectively, while it gained 30-paisa versus the euro for buying and selling at Rs 113.20 and Rs 114.20 espectively, they added.
OPEN MARKET RATES: In the overseas market, the euro tumbled against the dollar after two days of gains, pressured by comments from European Central Bank (ECB) chief Mario Draghi who expressed willingness to add more stimulus to the euro zone economy to raise inflation.
Most major banks have stuck firmly to the view that the euro will fall toward parity with the dollar in the months ahead as the Federal Reserve begins to lift interest rates while the ECB takes the opposite course. The euro, which slipped back below $1.07 against the dollar, was down 3.3 percent so far in November, on pace for its worst month performance since March.
ISLAMABAD The dollar further gained strength against the Pak rupee on the open currency markets of Islamabad and Rawalpindi here on Saturday. The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against overnight value of Rs 105 (buying) and Rs 105.20 (selling). It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (selling). Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against the same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).
LAHORE The rupee recovered slightly against the dollar on the local open market on Saturday. The dollar resumed trading at its overnight closing of Rs 106.75 and Rs 107.05 as its buying and selling rate but at the close of trading declined to Rs 106.70 and Rs 107.00, respectively. The rupee went better than the pound sterling, which was traded at Rs 161.20 and Rs 161.70 on the buying and selling counter as compared with the Friday closing of Rs 161.90 and Rs 162.50.
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Open Bid Rs 106.00
Open Offer Rs 106.30
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Open Market Rates: Open Market Rates For Dollar on Saturday.
RUPEE IN LAHORE: The rupee recovered slightly against the dollar on the local open market on Saturday.
The dollar resumed trading at its overnight closing of Rs 106.75 and Rs 107.05 as its buying and selling rate but at the close of trading declined to Rs 106.70 and Rs 107.00, respectively.
The rupee went better than the pound sterling, which was traded at Rs 161.20 and Rs 161.70 on the buying and selling counter as compared with the Friday closing of Rs 161.90 and Rs 162.50.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar further gained strength against the Pak rupee on the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against overnight value of Rs 105 (buying) and Rs 105.20 (selling). It did not observe further change in the second session and closed at Rs 106 (buying) and Rs 106.20 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 158.50 (selling) against the same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 158.50 (selling).
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