THE RUPEE: easier trend

The rupee continued slide against the dollar on the money market at the weekend, dealers said. The rupee lost 20 paisas in terms of the dollar for buying and selling at Rs 107.30 and Rs 107.50 respectively, they said.
OPEN MARKET RATES: The rupee fell sharply in relation to the euro, losing Rs 2.30 for buying and selling at Rs 124.60 and Rs 125.60 respectively, they said.
At the weekend, the US dollar hit its lowest level in more than a year against a basket of major rivals a day after the European Central Bank's chief abstained from talking down the euro, while obstacles to US President Donald Trump's policy agenda also weighed.
The dollar index touched 93.854, its lowest level since June of last year, and was last down about 0.5 percent at 93.885. The euro touched $1.1682, its highest level against the dollar in nearly two years, and was last up 0.4 percent on the day at $1.1674.

========================

Open Bid       Rs.107.30

Open Offer     Rs.107.50

========================

RUPEE IN LAHORE: The Pak rupee remained under pressure for the second consecutive day versus the major currencies including the American dollar and the British pound in the local currency market on Saturday.
The US dollar continued to keep going up amidst short supply phenomenon in the currency market throughout the trading session that helped its further appreciation at Rs 107.65 and Rs 107.70 on buying and selling side, respectively, as compared to the overnight closing rates of Rs 107.40 and Rs 107.50 respectively, local currency dealers said.
Versus the pound sterling, the local currency also followed the same suit for another day.
The pound's buying and selling rates further rose from Friday's closing rates of Rs 138.70 and Rs 139.40 to Rs 138.75 and Rs 139.50, they added.
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 106.40 (buying) and Rs 106.50 (selling) against same last rate. It closed at Rs 106.40 (buying) and Rs 10650 (selling).
Copyright Business Recorder, 2017