THE RUPEE: firm trend

Rising trend persisted on the currency market on Saturday in the process of trading, dealers said. The rupee extended overnight gains by picking up 10 paisas more in relation to the dollar for buying and selling at Rs 105.90 and Rs 106.10, they said. The rupee also gained 30 paisas against the euro for buying and selling at Rs 115.50 and Rs 116.50, they added.
OPEN MARKET RATES: At the weekend, the US dollar fell, hitting one-week lows against the euro after a drop in US wages in February overshadowed strong jobs growth and supported views that the Federal Reserve was in no hurry to hike interest rates.
Average hourly earnings fell 3 cents in February, data from the Labour Department showed. Analysts said traders were fixated on that drop even as non-farm payrolls increased by 242,000 jobs last month. The dollar was set to post its first weekly decline against the euro in three weeks.

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

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Open Bid       Rs 105.90

Open Offer     Rs 106.10

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RUPEE IN LAHORE: The rupee was unchanged against the dollar on the money market on Saturday.
An under-pressure dollar ended at Rs 105.80 and Rs 106.40 on buying and selling as compared with the overnight closing of Rs 105.80 and Rs 106.40 though it hardly saw any change in its buying and selling.
The rupee drifted down on buying while it remained unchanged on selling against the pound sterling that was traded at Rs 149.00 and Rs 150.00 on buying and selling as compared with the overnight closing of Rs 148.50 and Rs 150.00.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar appreciated 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, 2016