THE RUPEE: rising trend

The rupee appreciated in terms of the dollar amid post-budget session on the money market on Saturday, dealer said. The rupee managed to gain 20 paisas against the dollar for buying and selling at Rs 105.10 and Rs 105.30 respectively, they said. The rupee lost Rs 1.70 against the euro for buying and selling at Rs 119.00 and Rs 120.00 respectively, they added.
OPEN MARKET RATES: At the week-end, the dollar fell to the lowest level in three weeks after the US jobs report came in far below expectations and cast doubt on whether the Federal Reserve would raise US interest rates soon. The dollar index, which measures the greenback against a basket of major currencies, fell as much as 1.5 percent after the release of the data, on track for its largest one-day percentage loss in four months. The euro was last up 1.4 percent against the dollar to $1.1308. It hit a high of 1.1333, the highest level since May 17.

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

========================

Open Bid       Rs 105.10

Open Offer     Rs 105.30

========================

RUPEE IN LAHORE: The Pak rupee remained firm in relation to the greenback on the local currency market on Saturday.
According to the currency dealers, the dollar commenced trading on a negative note and remained under pressure due to lacking buyers' interest. At the close, the dollar ended lower at Rs 105.00 and Rs 105.55 on buying and selling sides, respectively, as against the Friday's closing of Rs 105.30 and 105.65.
Moreover, the local currency stayed strong and appreciated its worth on buying side while depreciated on selling side against the pound sterling. The British currency was bought and sold at Rs 151.30 and Rs 152.95 on buying and selling counters as compared with the overnight closing rates of Rs 151.40 and Rs 152.10, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 10 paisa against the dollar at local currency establishments of Islamabad and Rawalpindi here on Saturday.
The dollar resumed trading at Rs 105.50 (buying) and Rs 106 (selling) against last rate of 105.60 (buying) and Rs 106.10 (selling). It did not observe further change in the last trading hours and closed at Rs 105.50 (buying) and Rs 106 (selling).
Pound Sterling opened at Rs 151.60 (buying) and Rs 152 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 151.60 (buying) and Rs 152 (selling).
Copyright Business Recorder, 2016