The rupee did not budge any side against the dollar on the money market on Saturday in process of trading, dealers said. The rupee was inert against the dollar for buying and selling at Rs 105.90 and Rs 106.10 respectively, they said. The rupee lost 60 paisas versus the euro for buying and selling at Rs 119.00 and 120.00, they said.
OPEN MARKET RATES: At the weekend, the dollar hit a one-week high against the yen after upbeat US private sector job figures, while the closely-watched non-farm payrolls report out later in the global day could provide another boost.
The dollar hit 111.680 yen, its highest since May 26, in early trade before slipping back to 111.580, to hold a 0.2 percent gain on the day. For the week, it was on track to gain about 0.25 percent. The dollar also received an additional lift as an improvement in broader risk sentiment - Japan's Nikkei reached a 22-month peak after Wall Street set record highs - curbed demand for the safe-haven yen.
The dollar still needs a meaningful rise by US yields if it is to gain further, and right now Treasuries appear to be bound by thoughts that the Federal Reserve will limit its monetary tightening after it hikes rates in June. The euro was little changed at $1.1217 after losing 0.3 percent the previous day. The common currency had risen to a nine-day high of $1.1257 on Thursday and was still poised for a 0.4 percent weekly gain.
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Open Bid Rs 105.90
Open Offer Rs 106.10
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Open market Rates: Interbank Closing Rates For Dollar on Saturday.
RUPEE IN LAHORE: The Pak rupee recovered versus the US dollar in the local currency market on Saturday.
According to currency dealers, the dollar commenced trading on a negative note following lack of buyers' interest in the market.
At the close, it slid to Rs 105.85 and Rs 106.05 on buying and selling counters as compared to the overnight trend of Rs 105.90 and Rs 106.10 respectively, they added.
Furthermore, the local currency remained under pressure for the third consecutive day versus the pound sterling.
The pound's buying and selling rates further rose from Friday's closing rates of Rs 135.10 and Rs 136.10 to Rs 135.90 and Rs 136.50 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 105.90 (buying) and Rs 106 (selling) against same last rate. It closed at the same rate.
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