THE RUPEE: firm trend

The rupee managed to keep overnight levels against the dollar on the currency market in the process of trading, dealers said. The rupee did not move any side in relation to the dollar for buying and selling at Rs 105.05 and Rs 105.25 respectively, they said. The rupee lost 80 paisas in terms of the euro for buying at Rs 117.40 and it rose by 40 paisas for selling at Rs 119.00.
OPEN MARKET RATES: At the week-end, the euro recovered from a nine-day low against the US dollar on reduced concerns surrounding Deutsche Bank's health, while the greater calm over Germany's biggest lender pressured the safe-haven yen and Swiss franc.
Deutsche Bank's US-listed shares were last up nearly 15 percent after touching record lows on Thursday. The immediate cause of the Deutsche crisis is a fine, disputed by the bank, of up to $14 billion by the US Department of Justice over its sale of mortgage-backed securities. An AFP news agency report that the bank was nearing a cut-price settlement of $5.4 billion helped the euro recover after the currency fell to a nine-day low of $1.1153 around the start of the US trading session.

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Open Bid       Rs 105.05

Open Offer     Rs 105.25

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RUPEE IN LAHORE: The rupee-dollar parity remained unchanged amid sluggish trading trend on the local currency market Saturday.
According to currency dealers, the dollar resumed trading at Rs 135.15 and Rs 135.40 as its buying and selling rates, respectively. The dollar did not observe any change its value throughout the day; therefore, the opening rates continued to prevail till close, dealers said.
On the contrary, the rupee maintained a downward move and shed weight against pound sterling. The pound's buying and selling rates improved from Rs 135.40 and Rs 136.00 of Friday to Rs 135.50 and Rs 136.20, respectively, dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at local currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 105 (buying) and Rs 105.10 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 105 (buying) and Rs 105.10 (selling).
Pound Sterling opened at Rs 135 (buying) and Rs 136 (selling). It did not observe further change in the second session and closed at Rs 135 (buying) and Rs 136 (selling).
Copyright Business Recorder, 2016