THE RUPEE: firm trend

The rupee showed steadier trend against the dollar on the money market on Saturday in the process of trading, dealers said. The rupee sustained it's overnight levels against for buying and selling at Rs 106.10 and Rs 106.35, they added. While, the rupee lost 50 paisa in relation to the euro for buying and selling at Rs 115.50 and Rs 116.50, they added.
OPEN MARKET RATES: At the week-end, the US dollar tumbled against the yen after the Bank of Japan tweaked its monthly asset-purchase program in a way that traders viewed as minor, suggesting that the central bank may not ease policy as much as expected.
The BoJ set up a programme to buy exchange-traded funds, extend the maturity of bonds it owns to around 12 years and increase purchases of risky assets. The dollar, which had hit a more than two-week high of 123.590 yen shortly after the announcement, was last down about 1 percent against the yen at 121.290 yen. The euro rose slightly against the dollar, but analysts said the move was attributable to thin holiday trading rather than traders making bets on the fundamental outlook for the currency.

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Open Bid       Rs 106.10

Open Offer     Rs 106.35

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OPEN MARKET RATES: Open Market Rates For Dollar on Saturday.

RUPEE IN LAHORE: The Pak rupee failed to maintain rising trend and lost 10-paisa against the US dollar on the local currency market on Saturday.
According to the currency dealers, the dollar commenced trading at its day earlier closing of Rs 106.60 and Rs 107.00 as its buying and selling rate, respectively. As a result of fresh buying activity, the dollar registered gain and ended higher at Rs 106.70 and Rs 107.10 on buying and selling counters, respectively.
The rupee also showed stability and stayed unchanged on buying counter at Rs 158.20 in relation to the pound sterling. However, pound's rate declined from the Friday closing of Rs 159.00 to Rs 158.80 on selling counter, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar further 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