THE RUPEE: firm trend

Firmness prevailed on the money market on Saturday as the rupee held the overnight levels versus the dollar, dealers said. The rupee managed to hold overnight levels in relation to the dollar for buying and selling at Rs 105.25 and Rs 105.45 respectively, they said. The rupee was up by 30 paisas in terms of the euro for buying at Rs 115.30 while it gained Rs 1.20 for selling at Rs 116.80.
OPEN MARKET RATES: At the weekend, the dollar posted its best weekly performance in more than seven months after strong US retail sales and producer prices data for September reinforced expectations the Federal Reserve would raise interest rates in December. The US currency briefly trimmed gains versus the Japanese yen and euro after Fed Chair Janet Yellen said the US central bank might need to run a "high-pressure" economy to reverse damage from the last financial crisis.

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Open Bid       Rs 105.25

Open Offer     Rs 105.45

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RUPEE IN LAHORE: The Pak rupee remained under pressure for the second consecutive day and lost its worth against the American dollar in the local currency market on Saturday.
The dollar commenced trading on a healthy note and kept moving up during the day's trading. Because of the buyers' interest, the dollar ended higher at Rs 105.60 and Rs 105.85 as compared to the Friday's closing of Rs 105.50 and Rs 105.70, on buying and selling side, respectively, the currency dealers said.
On the other hand, the rupee continued upward move versus the British pound. The pound's buying and selling rate further slipped from the overnight closing of Rs 128.50 and Rs 139.70 to Rs 128.10 and Rs 129.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar 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 132 (buying) and Rs 133 (selling). It did not observe further change in the second session and closed at Rs 132 (buying) and Rs 133 (selling).
Copyright Business Recorder, 2016