THE RUPEE: No change

Firmness prevailed on the money market on Saturday as the rupee did not move any side against the dollar in the process of trading activity, dealers said. The rupee stayed put in terms of the dollar for buying and selling at Rs 111.80 and Rs 112.20 respectively, while it continued decline versus the euro, losing 50 paisas more for buying and selling at Rs 135.50 and Rs 137.50, they added.
OPEN MARKET RATES: In the final NY trading, the dollar slumped to a more than three-year low against the euro, as the common currency extended its gains on hopes that European Central Bank policymakers are preparing to reduce their vast monetary stimulus programme.
The euro was up 0.9 percent to $1.2139, on pace for its biggest single-day percentage gain against the greenback in about two months.
On Thursday, the euro rose 0.72 percent against the dollar after ECB policymakers said in minutes of the bank's December meeting that they could revisit their communication stance in early 2018.
The euro found further support after Chancellor Angela Merkel struck a deal with Social Democrat (SPD) rivals on Friday to open government coalition talks, easing months of uncertainty that has undermined Germany's global role and raised questions about her political future.

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Open Bid       Rs 111.80

Open Offer     Rs 112.20

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RUPEE IN LAHORE: The rupee-dollar parity stayed unchanged amidst sluggish trend in the local currency market on Saturday.
According to currency dealers, the US dollar commenced trading on its overnight closing of Rs 111.75 and Rs 112.30 as its buying and selling rates, respectively. At the close, no change in its value took place for buying and selling as its opening trend prevailed throughout the trading session, they added.
However, the local currency remained under pressure for the second consecutive day versus the British pound. Consequently, the pound's buying and selling rates further rose from Friday's closing of Rs 151.20 and Rs 152.00 to Rs 152.20 and Rs 153.20 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 25 paisas against rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 112.25 (buying) and Rs 112.35 (selling) against last rate of Rs 112 (buying) and Rs 112.10 (selling). It closed at Rs 112.25 (buying) and Rs 112.35 (selling).
Copyright Business Recorder, 2018