THE RUPEE: firm trend

Firmness prevailed on the money market on Saturday as the rupee held the overnight levels versus the dollar in the process of trading, dealers said. The rupee was unchanged against the dollar for buying and selling at Rs 105.50 and Rs 105.70 respectively, they said.
OPEN MARKET RATES: The rupee was also unmoved in terms of the euro for buying and selling at Rs 115.00 and 116.00 respectively, they said. At the weekend, the dollar stood tall in Asian trading, on track for a weekly gain against a basket of currencies, as the euro wallowed at seven-month lows after the European Central Bank doused speculation that it would taper its stimulus. The dollar index, which gauges the greenback against six major rivals, was up 0.2 percent at 98.476, up 0.5 percent for the week and near a session high of 98.564, its loftiest peak since March 10.
The euro slipped 0.2 percent to $1.0907, poised to shed 0.6 percent for the week after plumbing $1.0891 earlier on Friday, its lowest since March 10. The dollar was trading against the Indian rupee at Rs 66.87, the greenback was at 4.1900 in terms of the Malaysian ringgit and the US currency was at 6.7566 in relation to the Chinese yuan.

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Open Bid       Rs 105.50

Open Offer     Rs 105.70

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RUPEE IN LAHORE: The Pakistani rupee lost five paisas on buying side while it recovered 10 paisa on selling side in relation to the greenback in the local currency market on Saturday.
The trading activity of the greenback resumed on its day earlier closing of Rs 105.75 and Rs 106.00 as its buying and selling rates, respectively. At the close, the greenback further ended higher at Rs 105.80 on buying counter. However, it could not sustain and lost its worth to Rs 105.90 on selling counter, the local currency dealers said.
Against the pound sterling, the local currency failed to keep hold its strength. The pound's buying and selling rates went up from the Friday's closing of Rs 128.70 and Rs 129.60 to Rs 128.80 and Rs 129.80, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged on 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