The rupee managed to sustain its overnight firmness against the dollar on the money market on Saturday, dealers said. The rupee did not move any side against the dollar for buying and selling at Rs 105.40 and Rs 105.60 respectively, they said. The rupee picked up 20 paisas in terms of the euro for buying and selling at Rs 119.30 and Rs 120.30, they added.
OPEN MARKET RATES: At the week-end, the US dollar was little changed against a basket of major currencies and hovered near more than five-month lows on Friday after traders grew less confident that stronger-than-expected US economic data would alter the Federal Reserve's dovish course.
The dollar initially rebounded from recent losses after Labor Department data showed a jump in US non-farm payrolls and average hourly earnings last month and a separate US manufacturing report for March was better than expected.
That effect wore thin as the US session continued, with traders growing skeptical that the data was enough to suggest a swifter pace of Fed rate hikes. Fed Chair Janet Yellen said on Tuesday that the central bank should proceed "cautiously" on raising rates.
Open Market Rates: Open Market Rates For Dollar on Saturday.
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Open Bid Rs 105.40
Open Offer Rs 105.60
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RUPEE IN LAHORE: The Pak rupee appreciated its worth on buying side while it remained unchanged on selling side against the US dollar on the local currency markets on Saturday.
The dollar resumed trading at its overnight closing rate of Rs 105.60 and Rs 105.80 as its buying and selling rate, respectively. The dollar could not sustain and lost its worth at Rs 105.50 on buying side while its selling rate stayed unchanged at Rs 105.80, the local currency dealers said.
Similarly, the local currency went up on buying and selling sides against the pound sterling for another day that was purchased and sold at Rs 148.70 and Rs 149.70 as compared to the overnight closing of Rs 149.30 and Rs 150.60, the dealers added.
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).
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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