THE RUPEE: easier trend persists

The rupee continued its falling trend against the dollar on the open market on Saturday in the process of trading, dealer said. The rupee lost further 10 paisas against the dollar for buying and selling at Rs 105.10 and Rs 105.30 respectively, they said. The rupee shed further 10 paisas in terms of the euro for buying and selling at Rs 116.00 and Rs 117.00 respectively, they added.
OPEN MARKET RATES: At the week-end, the US dollar tumbled against the safe-haven yen as a plunge in benchmark US Treasury yields reduced the attractiveness of US debt and traders expected dovish Federal Reserve policy through this year, while sterling dipped. The dollar was last down 0.8 percent at 102.47 yen, near a session low of 102.44 hit in early trading. The dollar index, which measures the greenback against a basket of six major rivals, was last down 0.5 percent at 95.700.

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Open Bid       Rs 105.10

Open Offer     Rs 105.30

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RUPEE IN LAHORE: The Pak rupee marginally improved by five-paisa on buying side while it remained unmoved on selling side in relation to the US dollar on the local currency markets on Saturday.
According to the currency dealers, the dollar resumed trading at its overnight closing of Rs 105.20 and Rs 105.40 as its buying and selling rates, respectively. At close, the dollar could not sustain and declined to Rs 105.15 on buying counter. However, its opening rate continued to prevail till close of trading on selling counter.
On the other hand, the local currency failed to keep going up on buying side while appreciated on selling side against the pound sterling that was purchased and sold at Rs 143.00 and Rs 145.00 on buying and selling side, respectively, as compared with the Friday's closing of Rs 140.00 and Rs 148.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee was unchanged against the dollar at local currency establishments of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 104.50 (buying) and Rs 105 (selling) against same last rate. It did not observe further change in evening session and closed at the same levels.
Pound Sterling opened at Rs 137.50 (buying) and Rs 138 (selling). It did not observe further change in the second session and closed at Rs 137.50 (buying) and Rs 138 (selling) by the end of second session.
Copyright Business Recorder, 2016