Rupee gains

The rupee managed to recover further ground against the dollar on the money market on Saturday in the process of trading, dealers said. The rupee improved 20 paisa versus the dollar for buying and selling at Rs 106.80 and Rs 107.10, they added. The rupee also picked up 30 paisa in terms of the euro for buying and selling at Rs 115.20 and Rs 116.20, they added.
OPEN MARKET RATES: At the weekend, the US dollar regained some ground against the euro after European Central Bank president Mario Draghi said the ECB could deploy more stimulus if needed, leading traders to re-establish short positions in the currency.
The comments came after the ECB announced a bare-minimum easing package on Thursday that disappointed expectations for a more dramatic move and led traders to scramble to unwind hefty short bets against the euro.
The euro hit a session low of $1.08360 after Draghi's comments, but did not stray far from Thursday's elevated levels. The euro posted its biggest one-day percentage gain against the dollar in nearly seven years on Thursday and hit a one-month high of $1.09810. The euro remained on track for its biggest weekly percentage gain against the dollar in seven months.

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Open Bid       Rs 106.80

Open Offer     Rs 107.10

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

RUPEE IN LAHORE: The rupee managed to continue rising trend against the dollar on the local money market on Saturday.
But the dollar did go the reverse direction because of selling pressure and at close of trading ended further lower at Rs 106.85 and Rs 107.40 on the buying and selling sides against Rs 107.20 and Rs 107.50 of Friday.
The rupee staged recovery and improved against the pound sterling whose buying and selling rates went down from the overnight closing of Rs 160.00 and Rs 160.70 to Rs 159.70 and Rs 160.50.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained strength against the Pak rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 106 (buying) and Rs 106.20 (selling) against same last rate. 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 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