The rupee firmly held the overnight levels in relation to the dollar on the open market on Saturday, dealers said. The rupee did not move any side in terms of the dollar for buying and selling at Rs 106.40 and Rs 106.65, they added. The rupee, however, picked up 50 paisas against the euro for buying and selling at Rs 115.80 and Rs 116.80, they added.
OPEN MARKET RATES: At the weekend, the dollar rose sharply, hitting a six-week high versus the yen, after the Bank of Japan took one of its main interest rates into negative territory and US gross domestic product data largely matched economists' expectations.
The BoJ said it would apply a negative interest rate of minus 0.1 percent on selected current account deposits that financial institutions hold with it, effectively charging banks interest for holding excess deposits at the central bank.
Open Market Rates: Open Market Rates For Dollar on Saturday.
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Open Bid Rs 106.40
Open Offer Rs 106.65
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RUPEE IN LAHORE: The rupee appreciated against the dollar on the open market on Saturday.
The dollar resumed trading at Rs 106.70 and Rs 106.95 on buying and selling as against Friday's same rate. During Saturday's trading, the rupee did improve as it ended at Rs 106.65 and Rs 106.80 as its buying and selling.
The British pound did go under pressure against the rupee was traded at Rs 152.55 and Rs 153.50 on buying and selling as compared with the overnight closing of Rs 153 and Rs 154.
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).
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