THE RUPEE: rates stable

KARACHI: A kind of firmness prevailed on the money market at the weekend as the rupee held its overnight levels in terms of the dollar in the process of trading, dealers said. The rupee was unchanged in relation to the dollar for buying and selling at Rs 107.00 and Rs 107.20, however, it gained 75 paisas against the euro for buying and selling at Rs 113.00 and at Rs 114.50, they said.
OPEN MARKET RATES: At the week-end, the yen rose against major currencies as concerns about the upcoming French elections and the lack of movement in fiscal changes in the United States kindled safe-haven demand for the Japanese currency.
The dollar improved versus most peers with the exception of the yen, chalking up a second week of gains following a mildly hawkish view from Federal Reserve Chair Janet Yellen and surprising strong US data on retail sales and consumer prices. The yen was up 0.3 percent against the dollar at 112.87 yen and was 0.9 percent higher versus the euro at 119.78 yen.

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Open Bid      Rs.107.00

Open Offer    Rs.107.20

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RUPEE IN LAHORE: The Pakistani rupee stayed unchanged on buying side while it continued to keep upward trend on selling side against the US dollar in the local currency market on Saturday.
According to currency dealers, the trading of the US dollar resumed on its overnight closing of Rs 107.00 and Rs 107.40 as it buying and selling rates, respectively. At the close, no change in its value took place as it sustained its overnight closing trend of Rs 107.00 on buying counter. However, it further appreciated and ended at Rs 107.30 on selling counter, respectively, they added.
Furthermore, the local currency remained strong for the second consecutive day against the pound sterling. The pound's buying and selling rates further slid from the Friday's closing rates of Rs 132.10 and Rs 133.10 to Rs 131.80 and Rs 132.50, respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 108.10 (buying) and Rs 108.20 (selling) against the rupee and it closed at the same levels.
Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It closed at Rs 130 (buying) and Rs 131.50 (selling).
Copyright Business Recorder, 2017