THE RUPEE: firm trend

The rupee showed no major change versus the dollar in the process of trading, dealers said. The rupee was unchanged against the dollar for buying and selling at Rs 105.20 and Rs 105.40 respectively, while it dropped by 50 paisas in relation to the euro for buying and selling at Rs 119.50 and Rs 120.50 respectively, they added.
OPEN MARKET RATES: At the week-end, the yen retreated broadly after posting gains this week, weighed by warnings overnight from Japan's finance minister of possible intervention by the government to weaken the currency. Gains in global stock markets and oil prices also bolstered the market's appetite for risk, diminishing the appeal of the safe-haven yen.
The yen surged as much as two percent against the dollar on Thursday. Japanese Finance Minister Taro Aso responded early on Friday by warning that rapid currency moves were "undesirable," and the yen's moves were "one-sided."
That is language that Tokyo has used in the past to flag intervention. The yen has rallied to 17-month highs against the dollar, but investors expect Japanese policy makers to hold fire on a rate decision at least until after next week's G20 meetings in Washington.

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

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Open Bid       Rs 105.20

Open Offer     Rs 105.40

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RUPEE IN LAHORE: The Pak rupee remained weak on buying side but stayed unchanged on selling side against the US dollar on the local currency market on Saturday.
According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 105.30 and Rs 105.70 as its buying and selling rate, respectively. As a result of short supply, the dollar ended higher and closed at Rs 105.45 on buying counter while its selling rate stayed unchanged at Rs 105.70.
Similarly, the rupee lost its worth against the British pound for another day. The pound's buying and selling rates improved from the overnight closing of Rs 147.00 and Rs 147.80 to Rs 147.70 and Rs 148.70, respectively, the currency dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar showed no major change 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 the rupee, depicting no variations at the second session.
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).
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