The rupee almost held the overnight levels against the dollar on the money market on Saturday, dealers said. The rupee did not move any side against the dollar for buying at Rs 106.00 while it gained five-paisa for selling at Rs 106.25, however it lost 30-paisa in terms of the euro for buying at Rs 116.30 and selling and Rs 117.30 respectively, they added.
OPEN MARKET RATES: At the week-end, the dollar fell against a basket of currencies as a sell-off on Wall Street and slumping commodity prices overshadowed solid data on US retail sales data and consumer sentiment which may encourage the Federal Reserve to hike interest rates next week. The greenback initially rose on a November rise in retail sales before turning negative on the view the modest growth in stores spending was not strong enough to support further monetary tightening beyond next week.
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Open Bid Rs 106.00
Open Offer Rs 106.25
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Open Market Rates: The rupee fell against the dollar and the pound sterling on Saturday.
The dollar's demand remained intact helping its worth against the rupee. The former did gain and ended further higher at Rs 106.50 and Rs 107.00 on the buying and selling sides against Rs 106.00 and Rs 106.70 of Friday.
The rupee stayed weak and too lost its worth against the pound sterling as its buying and selling rates improved from the overnight closing of Rs 159.50 and Rs 160.50 to Rs 160.80 and Rs 161.50.
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 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).
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